Daily Current Affairs Quiz PDF of 8th December 2017
Hello Aspirants !! Here are all important current affairs in short notes. With this website at hand, you will get a grip to the entire sphere of the knowledge. The sub sections provide a better introspective to the various genres with an added section for the current affairs to keep you updated to the most.
To Download Current Affairs In GUJARATI Click On link Given In Bottom
TET 1 Book Is Now Available from Shikshanjagat. You Can Purchase TET 1 book Online from Below given image. This Is the best book for Upcoming TET 1 Exam 2017. Candidates have to submit details of address to Receive book.
टेट 1 परीक्षा के लिए बुक ऑनलाइन खरीदने के लिए इस लिंक पर क्लिक करे
Hello Aspirants !! Here are all important current affairs in short notes. With this website at hand, you will get a grip to the entire sphere of the knowledge. The sub sections provide a better introspective to the various genres with an added section for the current affairs to keep you updated to the most.
To Download Current Affairs In GUJARATI Click On link Given In Bottom
The Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage under UNESCO has inscribed ´KumbhMela´ on the Representative List of Intangible Cultural Heritage of Humanity during its 12th session being held at Jeju, South Korea. This inscription is the third in two years following the inscriptions of ´Yoga´ and ´Nouroz´ in December.
The Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill), was introduced in the Lok Sabha on August 11, 2017. The bill is presently under consideration of the Joint Committee of Parliament. The Joint Committee is consulting all the stakeholders on the provisions of the FRDI Bill. The committee is now set to invite the RBI governor Urjit Patel to brief the members. It is noteworthy that the bill was opposed by the bank unions who have also requested the Finance Minister Arun Jaitley to withdraw this legislation.
About the FRDI Bill:
The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.
- The Bill when enacted, will pave the way for setting up of the Resolution Corporation. It will also result in the repealing of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 to transfer the deposit insurance powers and responsibilities to the Resolution Corporation.
- The Resolution Corporation would protect the stability and resilience of the financial system; protecting the consumers of covered obligations up to a reasonable limit; and protecting public funds, to the extent possible.
- It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill. The proposed Bill complements the Code by providing a resolution framework for the financial sector.
Merits of Financial Resolution and Deposit Insurance Bill, 2017:
- The Financial Resolution and Deposit Insurance Bill, 2017 seeks to give comfort to the consumers of financial service providers in financial distress. It also aims to inculcate discipline among financial service providers in the event of financial crises by limiting the use of public money to bail out distressed entities.
- It would help in maintaining financial stability in the economy by ensuring adequate preventive measures, while at the same time providing the necessary instruments for dealing with an event of crisis.
- The Bill aims to strengthen and streamline the current framework of deposit insurance for the benefit of a large number of retail depositors.
- The Bill seeks to decrease the time and costs involved in resolving distressed financial entities.
Labour ministry’s proposal for universal social security payments is facing resistance from other government sections because such a programme would raise overall wage costs.
In a significant development, elite export control regime Wassenaar Arrangement (WA) has decided to admit India as its new member, which is expected to raise New Delhi’s stature in the field of non-proliferation besides helping it acquire critical technologies. The decision was taken at the recently held plenary meeting of the grouping in Vienna.
The Income-Tax Department is scrutinizing all unexplained credits and investments in personal as well as corporate income-tax filings and is looking to invoke the Benami Act in many cases. Unexplained credits, in the books of a company or bank accounts of individuals, have so far been treated as black money, attracting a higher tax of up to 80%.
The Union Home Minister recently highlighted the importance of having Border Protection Grid (BPG) in the country. The concept was highlighted during the recently held meeting of the Chief Ministers of the Indo-Bangladesh Border (IBB) States, in Kolkata.
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