- Govt plans to promote investment instil confidence
- With State Government’s decisions to promote investment and industries for employment, youth have got new hope. Looking at Government’s speedy decision regarding investment, the youth who are looking for employment opportunities from them are enthusiastic.
- A proposal has been sent to the Government of India for sweet and namkeen cluster in Jabalpur. This will prove to be a new step in Mahakaushal region. A confectionery cluster is being developed in the Malwa region of Indore which will provide employment to the local people. Apart from this, textile parks are coming up in Mohana industrial area Dhar, Acharpura industrial area Bhopal, Lehgadua industrial area Chhindwara and Jaora industrial area Ratlam. In these parks also, local youth will get employment opportunities.
- Malayalam film ‘Veyilmarangal’ won an award at Shanghai International film festival
- At the22nd Shanghai International Film Festival, Director Bijukumar Damodaran received the Outstanding Artistic Achievement Award for the film, Veyil Marangal (Trees Under the Sun).
- This is for the first Indian film to win a major award at the festival.
- The film is one among the 3,964 entries submitted from 112 countries in the prestigious Golden Goblet Award competition.
- The jury chairperson at the Fest was the Turkish director Nuri Bilge Ceylan.
- MHA released the rankings of Police Stations for 2018; Rajasthan tops the list
- Ministry of Home Affairs (MHA) released the rankings of police stations for the year 2018.
- It covered 15,666 police stations. 20% weightage was assigned to the police station’s infrastructure and citizen feedback on the performance of the police personnel posted at the police station and they were evaluated on the basis of crimes against women, Scheduled Castes and Scheduled Tribes & property related offences.
The scores were calculated based on the number of FIRS (First Information Reports) chargesheeted within 60 days.
- The Kalu police station in Bikaner district of Rajasthan was ranked the best police station in the country.
- It was awarded the first rank for its performance in crime prevention, investigation and disposal of cases, crime detection, community policing and maintenance of law and order, women help desk facility, drinking water facility and WiFi.
- The Campbell Bay police station in Nicobar district of Andaman & Nicobar Islands ranked second
- It has facilities like a separate woman help desk, a child-friendly room, an IT (Information Technology) room and a proper waiting room for the complainants and visitors.
- Farakka police station in Murshidabad, West Bengal was ranked third for its facilities like air- conditioners, a gymnasium and playground that provides a comfortable environment for public-police interaction, CCTV cameras, fire safety facilities and oxygen cylinders.
- Nettapakkam in Puducherry, Gudageri in Dharwad,Karnataka, Chopal in Shimla, Lakheri in Bundi, Rajasthan, Periyakulam in Theni, Tamil Nadu.
- RBI launched Complaint Management System to facilitate grievance redressal process
- TheReserve Bank of India (RBI) has launched Complaint Management System (CMS), on its website for facilitating RBI’s grievance redressal process and also to improve customer experience in timely redressal of grievances.
Complaint Management System (CMS):
- CMS is a software applicationlaunched by RBI for lodging complaints against any regulated entity withpublic interface such as commercial banks, urban cooperative banks (UCBs), Non-Banking Financial Companies (NBFCs). CMS is also provided with various dashboards which will help RBI to effectively track progress in redressal of complaints.
- It is expected that the CMS will maintain trust and sustain the confidence of consumers in the banking system and other financial service providers (FSPs), prompt and effective grievance redressal mechanism together with customers empowerment through education is a must.
- RBI monitors the asset-liability gap, liquidity position, and repayment schedules of housing finance companies
- TheReserve Bank of India (RBI), as per its announcement, has started monitoring the asset-liability gap, liquidity position, and repayment schedules of housing finance companies (HFCs). It will be monitored on a daily basis after the liquidity crisis which hit these firms, resulting in defaults.
- National Housing Bank regulates the mortgage lenders. But RBI is of the view that there are possibilities that the liquidity crisis of the HFCs could have a spillover effect on the other segments in the financial sector, including banks. This can affect financial stability which makes it necessary to monitor these entities on a regular basis
- The Non Banking Financial Companies (NBFCs)particularly the mortgage lenders are fighting a crisis of confidence with banks. Because of the debt default by IL&FS in September 2018, the banks have stopped lending to these entities.
- Lok Sabha passed the Special Economic Zones (Amendment) Bill, 2019
- TheLok Sabha passed the Special Economic Zones (Amendment) Bill, 2019on 26 June. The amendment of sub-section (v) of Section 2 of the SEZ Act, 2005 will make a trust or any entity notified by the Central government eligible for consideration of grant of permission to set up a unit in special economic zones. The Bill aims at improving and encouraging more investments and introducing features including single-window clearance and to ease imports and exports.
- The Bill will replace the ordinance promulgated in February 2019. The ordinance seeks to amend the definition of a person under the SEZ Act 2005, which will enable a trust to be considered for grant of permission to set up a unit.
Exports from SEZs rose21% on year to Rs 7 lakh crore in FY19. As of March 31, there were 232 SEZs, of which 25 are multiproduct and the rest are sector specific, with 5,109 approved units.