Current Affairs Pocket : 1st SEP 2016

NPCI launches Bharat Bill Payment System pilot project

  • Mumbai based National Payments Corporation of India (NPCI) with 26 Bharat Bill Payment Operating Units (BBPOUs) launched the pilot project for Bharat Bill Payment System (BBPS).
  • Bharat Bill Payment System will provide inter operable bill payment services to customers. Now  it will cover repetitive payments such as electricity, water, gas, telephone and Direct-to-Home (DTH).
  • As of now  52 Banking entities and 10 Non-Banking entities are received in-principle approval from  RBI to function as Operating Units (OU).

100-year-old athlete from India, wins Gold Medal at Masters Games

  • India’s 100-year-old athlete, Man Kaur has won Gold medal at the American Masters Games in the 100-meter dash. She took a minute-and-a-half to cross the finish line in Vancouver.
  • Kaur from Chandigarh was the only female competitor in her age category at the competition for older athletes.

Union Minister Sadanandha Gowda inaugurated the 8th meet of SAARCSTAT

  • India hosted the three-day(August 29-31,2016) 8th meeting of SAARCSTAT and delegates from SAARC Member States and other international organizations viz., FAO, PARIS 21, and ADB attended the Meet.
  • The theme of this Meeting is “Trade Statistics – Merchandise & Services”.
  • Venue: New Delhi
  • The Statistics Ministry in India attaches considerable importance to coverage and quality aspects of statistics released in the country and are constantly working to achieve international standards.
  • This was stated by the Minister for Statistics and Programme Implementation, Shri. D.V. Sadananda Gowda, while inaugurating the 8th Meeting of Heads of SAARC Statistical Organizations (SAARCSTAT).
  • He also stated that Accurate, reliable and timely information plays an important role for effective decision making in almost every aspect of human endeavor.  It is an essential ingredient for decisions makers and Policy planners.

Union Cabinet approves various amendments in FDI policy

  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post-facto approval for the FDI policy amendments announced by the Government. The FDI policy amendments are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment.
  • Food – It has now been provided that 100% FDI under automatic route for trading.
  • Defense – Earlier FDI regime permitted 49% FDI participation in the equity of a company under automatic route.
  • Pharma – The earlier FDI policy on pharmaceutical sector provides for 100% FDI under automatic route
  • Civil aviation – As per the earlier FDI policy, foreign investment up to 49% was allowed under automatic route
  • Private Security – The earlier policy permitted 49% FDI under government approval route in Private Security Agencies.
  • Animal Husbandry – As per FDI Policy 2016, FDI in Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture and Agriculture is allowed 100% under Automatic Route under controlled conditions.

Anuradha Rao is MD, CEO of SBI Mutual Fund

  • SBI Mutual Fund has appointed Anuradha Rao as its Managing Director and Chief Executive.
  • Prior to this, Rao was Deputy Managing Director at SBI handling New Business Portfolio.

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