Current Affairs: August 13
Rajras Current Affairs August 13
NEWS: MSME Ministry launches two portals
- Union Ministry of MSME has launched two portals
- MSME Databank Portal
- Aims to gather information about micro, small and medium enterprises.
- Objective: To provide one-stop source of information regarding MSME in India
- Online Finance Facilitation Web Portal.
- Provide collective funding options for MSMEs.
- The portal will allow the MSMEs to apply for loans from the various banks from Portal itself.
NEWS: Assam government launches Rhino Horn Verification Process
- Why required: 12 treasuries of Assam Government have stocks of Rhino horns that have been recovered since 1980.
- Government has formed 12-member committee that shall verify genuineness of rhino horns
NEWS: Cabinet approves liberalization of FDI norms for NBFC’s
- New norms to improve ease of doing business
- If a NBFC comes under regulation any of the financial sector regulators, foreign investment can now come under the automatic route.
- If a NBFC is not regulated by any of the regulators (RBI, SEBI, PFRDA etc.)/government agencies then it will need approval from the Foreign Investment Promotion Board (FIPB).
- Minimum capitalization norms as mandated under FDI policy have been eliminated as most of the regulators have already fixed minimum capitalization norms.
- What is a NBFC ?
- NBFC is a financial institution that provides banking services without having a banking license.
- It is established as a company registered under the Companies Act, 1956 but its operations are often still covered under a country’s banking regulations.
- NBFCs may be engaged in the business of loans and credit facilities, savings products, investments and money transfer services.
- Differences from Bank:
- NBFC cannot accept demand deposits.
- NBFCs are not part of the payment and settlement system and so are not allowed to issue cheques drawn on itself.
- Unlike Banks, deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs.
- NBFC details (RBI)
NEWS: SC re-allows sale of luxury cars in NCR
- Supreme Court in a decision has allowed the fresh registration of high-end (more than 2000CC) diesel cars and SUVs in Delhi and the National Capital Region.
- However, SC implemented polluter pays principle and imposed Green charge of 1% of the vehicle’s ex-showroom price.
NEWS: Tulu Works shall be digitalized under Bharatavani
- Union government announced that 165 important Works in Tulu script shall be digitalized and made available on-line under Bharatavani project.
- Two important things
- BharataVani Project:
- Initiative of Union Human Resource Ministry.
- Project aims at making available “knowledge in and knowledge about” all languages in the country in multimedia formats (text, audio, video and images) through an online portal.
- Implementing agency: The Central Institute of Indian Languages, Mysuru.
- Tulu language:
- Tulu belongs to Dravidian family of languages.
- It is spoken by around 2 million people mainly in the south-west Karnataka and in the Kasaragod district of Kerala.
- Lykaio mountain in Greece: Excavation of 3,000-year-old grave could be evidence of a rare case of human sacrifice.
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