framework

Internet to remain free and fair in India

Internet will remain free and fair in India as the telecom commission has approved net neutrality. Net neutrality requires service providers to treat all internet traffic equally & prohibits discrimination in the treatment of content. Some mission-critical applications or services like remote surgery and autonomous cars will, however, be kept out of the purview of net neutrality framework.

SEBI to come out with consultation paper

The Securities and Exchange Board of India (SEBI) will soon come out with a consultation paper on making it mandatory for large corporates to meet one-fourth of their financing needs through bond market. SEBI will discuss with stakeholders before finalising the framework for corporates. SEBI is the regulator for the securities market in India and its chairman is Ajay Tyagi.

UNSC adopts resolution to protect children

UN Security Council has adopted resolution 2427 aimed at a framework for mainstreaming protection, rights, well-being and empowerment of children throughout the conflict cycle. The resolution won unanimous approval of 15 members of the council. The resolution strongly condemns the recruitment & use of children by parties to the armed conflict as well as their re-recruitment.

TAC Security launches ESOF

India and USA-based cyber security solutions provider TAC Security has announced a new platform, ESOF (Enterprise Security on One Framework). It would provide organisations to manage their entire IT security and risk assessment needs in one single platform. According to the latest reports the cyber security market in India is projected to grow at a CAGR of 19% during 2018-2023.

India and Cuba sign MoU to strengthen ties

India and Cuba have signed two MoUs in the field of biotechnology, traditional medicine and homoeopathy between President Ram Nath Kovind and his Cuban counterpart Miguel Mario Díaz-Canel. India also offered a soft loan for the solar projects under the framework agreement of the ISA, of which Cuba is a founding member. Mr Kovind also went to Jose Marti at his memorial at Revolution Square.

V. Naidu at Ntl. Consultation on Agriculture

Vice President of India, Shri M. Venkaiah Naidu addressed National Consultation on Agriculture at Vaikunth Mehta National Cooperative Institute of Management. He emphasised on a multi-pronged strategy & creating a policy framework with intensification of Farming. The focus was on marketing and agri Logistics, agri trade policy, transfer of technology and agricultural insurance and credit.

Draft of cross-border insolvency norms

The Ministry of Corporate Affairs is planning to introduce a globally accepted and well-recognised cross-border insolvency framework. It will be fine-tuned to suit the needs of aspirational Indian economy. The Government has taken initiative for Cross-Border Insolvency within the Insolvency & Bankruptcy Code, 2016 (the Code) to provide a comprehensive legal framework.

Workshop on Cyber Security Framework 2018

A workshop on cyber security for Department of Defence was organised by Department Defence Production, MoD. It was inaugurated by Defence Minister Smt. Nirmala Sitharaman. The framework is in line with guidelines for organisations to target the area of cyber security and identify improvements in the area. Joint Secretary and Chief Information Security Officer of DDP is Dr Amit Sahai.

NSE IFSC issues ‘omnibus’ trade framework

NSE IFSC, a subsidiary of the National Stock Exchange, has put in place a framework for ‘omnibus’ trade. It will help overseas investors escape direct registration process and go through authorised brokers. The move will also help in smooth transition of liquidity from Singapore Exchange (SGX) to Indian offshore exchange at Gujarat International Finance Tech (GIFT) City.

Myanmar, UN sign pact for Rohingyas

Myanmar and U.N. agencies signed an agreement that might eventually lead to the return of some of the 700,000 Rohingya Muslims. The MoU signed promises to establish a “framework of cooperation” that aims to create the conditions for “voluntary, safe, dignified and sustainable” repatriation of Rohingya refugees. The U.N. and U.S. have described the army crackdown as “ethnic cleansing”.

Netherlands signed framework agreement of ISA

Netherlands has signed the framework agreement of International Solar Alliance (ISA) following a bilateral summit between PM Modi & his Dutch counterpart Mark Rutte. ISA was launched by Modi and then French President Francois Hollande at the Paris climate summit in 2015. The objective of the alliance is to work for efficient exploitation of solar energy to reduce dependence on fossil fuels.

Artificial Intelligence in defence forces

India has decided to include Artificial Intelligence in its defence forces with an aim to enhance the operational preparedness of the armed forces. A task force has been set up under the chairmanship of N. Chandrasekaran to finalise the specifics & framework of the project. Major countries like Russia, US & China are taking steps to ensure that their defence systems are fully empowered by AI

Government unveiled Wind-Solar Hybrid Policy

Ministry of New and Renewable Energy has issued National Wind-Solar Hybrid Policy. The objective of the policy is to provide a framework for the promotion of large grid-connected wind-solar PV hybrid system for efficient utilization of transmission infrastructure and land. It also aims at reducing the variability in renewable power generation and achieving better grid stability.

RBI puts Dena Bank under corrective action

RBI has initiated prompt corrective action against Dena Bank in view of high non-performing assets, restricting the bank from giving new loans & new hiring. Prompt Corrective Action comes after Dena Bank posted a loss for the third year in a row with net NPA’s close to 12%. Though several banks are under the PCA framework currently, Dena Bank is the first lender to have fresh lending curbed.

Cabinet approve accession to the WHO Protocol

Cabinet has given approval to accede to the Protocol under World Health Organization Framework Convention on tobacco control (WHO FCTC) to eliminate illicit trade in tobacco products. It will be applicable to both smoking and chewing or smokeless tobacco forms as negotiated and adopted under Article 15 of the WHO FCTC. The 7th Session of the COP7 to the FCTC was held in Greater Noida in 2016

Haryana to adopt startup ranking

Haryana government had decided to adopt startup ranking framework issued by Department of Industrial Policy and Promotion (DIPP), Government of India. This would help bring to fore progress made by the state for promoting start-up ecosystem & foster competitiveness. The framework is spread across seven areas of interventions with a total of 38 action points and overall score of 100 marks.

SEBI tightens KYC norms for FPIs

SEBI came out with a detailed framework for Risk Based Know Your Client (KYC) documentation of Foreign Portfolio Investors (FPIs). The market regulator made it clear that Non-Resident Indians (NRIs), Overseas Citizens of India (OCI) and resident Indians cannot be beneficial owners of FPIs. NRIs and OCIs can only obtain an FPI licence when they limit their roles to investment advisors.

India, Pakistan to take part in war games

In a first, India and Pakistan will be part of a multi-nation counter-terror exercise in Russia in September.The military exercise will take place under the framework of the Shanghai Cooperation Organisation. The military drill would be held in the Ural mountains of Russia, and almost all SCO member countries will be part of it.

India to get database on disasters by 2020

India will get a national database on disasters, which includes information on deaths, people affected and economic losses, by 2020.As India is a signatory to the Sendai Framework for Disaster Risk Reduction, it has become imperative for the country to have a database ready by 2020. A baseline, using data from 2005-15, will be developed in order to track improvements in disaster management.

National E-comm policy conference

24 : Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, will chair the first meeting of the think tank on the Framework for National Policy on E-commerce to be held on April 24th, 2018.The think tank has been established by the Department of Commerce. Issues related to the e-commerce sector such as regulatory regime, taxation policy, data flows, FDI etc will be discussed.

India and UK signed 10 agreements

India & UK have signed 10 agreements in several sectors including cyber-relationship, rejuvenation of Ganga & skill development.The two countries have agreed to an overarching cyber-relationship framework that enables development of a common & shared understanding of the international cyber activity. Both the nations also signed MoU on Skill Development, Vocational education and Training.

Jayant Sinha to head task force for UAV tech

The Government has formed a task force under the Chairmanship of MoS Civil Aviation Jayant Sinha for fast-tracking the roll-out of Unmanned Aerial Vehicle technology.The Task Force will focus on R&D, acquisition and commercialisation, regulatory framework and preference for Make in India. The task force will submit its report within 6 months of its constitution.

Nabard frames self-healing norms for RRBs

NABARD has come out with a ‘Prompt Corrective Action (PCA) Framework’ for Regional Rural Banks (RRBs).The framework is aimed at enabling RRBs that fail to meet prudential requirements like capital adequacy to take self-corrective action. The PCA will be invoked if RRBs fail to meet the ‘capital to risk-weighted assets ratio’, assets (NPAs), and profitability (Return on assets).

Govt clears India-Iran MoU for expert group

The government gave an ex-post facto approval to an agreement with Iran to set up an expert group on trade remedy measures.The MoU will establish a framework of cooperation in the area of trade remedial measures like anti-dumping and countervailing duty. The pact was signed on February 17 this year during the visit of the President of Iran.

Govt clears restructuring of NSDF, NSDC

The government approved the restructuring of National Skill Development Fund (NSDF) and National Skill Development Corporation (NSDC). The move will strengthen governance, implementation and monitoring framework. NSDC and NSDF were set up by the Ministry of Finance and registered in July 2008 and January 2009 respectively for implementing coordinated action for skill development.

SEBI clamps down on derivative markets

SEBI tightened the derivative markets framework to curb speculations and prevent small investors from entering the high-risk space. It also accepted the majority of the recommendations made by the Uday Kotak Committee on corporate governance. It introduced a concept of =product suitability‘ under which investors will have to show income or knowledge proof to deal in the derivatives segment.

RBI issues the corrective framework for PSBs

The Reserve Bank of India has issued a Prompt Corrective Action framework to maintain the sound financial health of banks. The framework facilitates banks in breach of risk thresholds for identified areas of monitoring, such as capital, asset quality and profitability, to take corrective measures. The RBI, through corrective framework, encourages banks to abstain from riskier activities.

Ravi Shankar launches first NIC-CERT

IT Minister Ravi Shankar Prasad has launched 1st NIC-CERT, a setup of National Informatics Centre to prevent & predict cyber attacks on govt utilities.NIC-CERT will work to ensure early detection & immediate mitigation of cyber attacks by monitoring data across the NIC platform.It has been setup with the objective of creating a comprehensive framework that integrates world class security.

Military cooperation deal

Britain and Saudi Arabia have signed a framework deal on military and security cooperation as the Riyadh regime intensifies its ongoing campaign against Yemen. The agreement comes as Britain seeks to explore lucrative trade deals outside Europe, after voting to leave the European Union. The deal comes just 2 days after Gulf rival Qatar agreed to purchase jet fighters from the European nation

National Nutrition Strategy

NITI Aayog has launched National Nutrition Strategy aimed at Kuposhan Mukt Bharat. It intends at bringing nutrition to centre-stage of National Development Agenda. The framework envisages a Kuposhan Mukt Bharat – linked to Swachh Bharat & Swasth Bharat. It enables states to make strategic choices, through decentralized planning & local innovation, with accountability for nutrition outcomes.