All India Radio News Summary: 03 JANUARY 2018
- Financial Resolution and Deposit Insurance Bill (FRDI) 2017 provides additional protection to the depositors in a more transparent manner – Government
The Government has said that Financial Resolution and Deposit Insurance Bill (FRDI) 2017 provides additional protection to the depositors in a more transparent manner.
- Finance Ministry in a statement said, the bill does not modify present protection to the depositors adversely at all.
- It said, certain misgivings have been expressed in the media, especially social media, regarding the depositor protection in the context of bail-in provisions of the FRDI Bill. These misgivings are entirely misplaced.
- Clarifying certain misgivings the finance ministry said, currently deposits with banks are insured up to one lakh rupees and the similar protection will continue under the FRDI Bill and the Resolution Corporation is empowered to increase the deposit insurance amount.
- The Ministry said the uninsured depositors, that is, beyond one lakh rupees, of a banking company are treated on par with unsecured creditors under the present law and paid after preferential dues, including Government dues, in the event of its liquidation.
- As per the provisions of the FRDI Bill, the claims of uninsured depositors in the case of liquidation of a bank will be higher than those of the unsecured creditors and government dues.
- The FRDI Bill introduced in the Lok Sabha in August last year, is presently under the consideration of the Joint Committee of Parliament.
- Crypto currencies will not be considered as a legal tender
The government has made it clear that it does not consider crypto currencies a legal tender in India.
Replying to supplementaries during Question Hour in the Rajya Sabha, Finance Minister Arun Jaitley said
- a Committee under the Chairmanship of Economic Affairs Secretary is deliberating upon the overall issues related to crypto currencies.
- The Committee will propose specific actions to be taken in the matter.
Both the Reserve Bank of India and the Government of India have consistently maintained a position and made it public repeatedly that this is not a lawful legal tender in India and therefore that protection is not available. It is operating online there have been expert groups which have been setup how to deal with the situation who’s report is now awaited.
- Maharashtra government has decided to quadruple compensation for families who voluntarily move out of the protected forest areas in the state.
The decision aims to reduce the man-animal conflict and rehabilitation of human settlements outside of protected forest zones and national parks.
- A fund of 45 crore rupees has been set aside for the purpose.
- There are six national parks, 48 wildlife sanctuaries and six conservation reserves in the state. Six project tigers in Maharashtra include five National parks and 14 wildlife sanctuaries.
- Various orders and judgments by the Supreme Court were the hurdles in developmental works in the 38 villages in protected areas.
- Voluntary shifting out will help in development of these villages and creation of jobs for the locals by way of eco-tourism.
- All public sector banks to dedicate a large part of their CSR funds to the Swachh Bharat Mission
All public sector banks and financial institutions have agreed to dedicate a large part of their Corporate Social Responsibility funds to the Swachh Bharat Mission in the next fiscal.
Banks and financial institutions also committed to provide access to clean toilets for customers across all branches in the country as their contribution to the Swachh Bharat Mission.
- Swachha Bharat Mission has declared Hyderabad as Open Defecation Free (ODF) city
Swachha Bharat Mission has declared Hyderabad as Open Defecation Free (ODF) city.
The City has been included in the fresh list of ODF cities released by the Swachha Bharat mission, after a few teams from the quality control division of the Mission held a series of inspections.
- Cruise tourists arriving with an e-visa exempted from the requirement of biometric enrolment
Ministry of Home Affairs has exempted cruise tourists arriving with an e-visa from the requirement of biometric enrolment for a period of three years to promote cruise tourism in the country.
Shipping Ministry in a release said, this will make immigration clearance of such passengers faster, leaving them with more time to spend on shore.
- Prime Minister paid tributes to social reformer Savitribai Phule on her birth anniversary
Prime Minister paid tributes to social reformer Savitribai Phule on her birth anniversary today.
Savitribai Phule’s life was devoted to the empowerment of the poor and marginalised and she gave utmost importance to education and social reform.
- She founded the first girls’ school in Punerun by native Indians at Bhide Wada in 1848.
- She worked to abolish discrimination and unfair treatment of people based on caste and gender.
- She is regarded as an important figure of the social reform movement in Maharashtra.
- US has accused Pakistan of playing a double game on fighting terrorism
The US has accused Pakistan of playing a double game on fighting terrorism and asked it to take decisive action against terrorists operating from its soil to earn the American aid.
- The tough message from Washington came following US President Trump’s tweet on New Year’s day that said America had been rewarded with nothing but lies and deceit by Pakistan in return for its over 33 billion dollar aid in the last 15 years.
- US Ambassador to the UN said, Islamabad works with Washington at times, but they also harbour the terrorists that attack US troops in Afghanistan.
- She said, the Trump administration expects far more co-operation from Pakistan in the fight against the menace.
- North Korea to restore a hotline with South Korea
North Korea said, it will restore a hotline with South Korea.
The development follows proposed high-level talks by Seoul in response to North Korean leader Kim Jong-Un’s calls for better relations and suggestion that his country might attend the Winter Olympics in South Korea next month.
A North Korean official announced in a televised statement that Mr Kim has given an order to open a long-closed border hotline with South Korea for talks.
The official said, the talks would aim to establish formal dialogue about sending a North Korean delegation to the Pyeongchang Olympics.
- Sri Lankan Prime minister thanked Indian government for providing an efficient ambulance service
Sri Lankan Prime minister thanked Prime Minister and Indian government for providing an efficient ambulance service to his country.
MOU signed to expand the 1990 emergency ambulance service throughout Sri Lanka.
The Sri Lankan Prime minister said, the service is a very good example of close cooperation between the two countries.
The service will be operated with an Indian grant of 15.2 million US dollars. The project is a classic case of job creation, technology transfer and innovation.
- The upcoming three-Test series between India and hosts South Africa has been named as “Freedom Series”. Cricket South Africa says it is South Africa’s way of reciprocating India’s efforts in ending the country’s sporting isolation in 1991.