NITI Aayog Releases Discussion Paper on Digital Banks Seeking Comments
The Paper starts by defining the concept of “Digital Bank” and points out the promise it holds while mapping the prevalent business models. It goes on to highlight the challenges presented by the “partnership model” of neo-banking that has emerged in India as a function of regulatory vacuum and absence of a Digital Bank license.
Cabinet approves continuation of National Apprenticeship Training Scheme for next five years.
The scheme is a well-established scheme of Government of India which has demonstrated to enhance the employability of students who have successfully completed the apprenticeship training. The apprentices who have completed graduate and diploma programme in Engineering, Humanities, Science and Commerce will be given stipend of Rs.9,000/- and Rs.8,000/- per monthrespectively.
Cabinet approves extension of Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for another four months.
Due to the economic disruptions caused by the unprecedented outbreak of COVID-19 in the country, the Government in March 2020 had announced the distribution of additional free-of-cost foodgrains (Rice/Wheat) to about 80 Crore National Food Security Act (NFSA) beneficiaries at the scale of 5 Kg per person per month under the PM Garib Kalyan Anna Yojana (PM-GKAY)
MCA invites comments from public on Cross-Border Insolvency under Insolvency and Bankruptcy Code, 2016.
Cross-border insolvency’ denotes circumstances in which an insolvent debtor has assets and/or creditors in more than one country. With the rapid increase in globalisation and the advent of sophisticated communications technology, cross-border trade and investment has increased the dependence of national economies on each other.
The Draft Food Safety and Standards (Alcoholic Beverages) Amendment Regulations, 2021.
The amendment has notified the term “Non-alcoholic counterpart of alcoholic beverage”under sub regulation 1.2.17 which means non-alcoholic beverage having alcohol content less than or equal to 0.5% abv. It shall meet all the requirements of respective alcoholic beverage of origin except the ethyl alcohol content. Additionally, the alcoholic beverage of the origin must undergo the process of fermentation and the produced alcohol is removed thereafter.’
Norms for Silver Exchange Traded Funds(Silver ETFs) and Gold Exchange Traded Funds (Gold ETFs)
A Silver ETF Scheme shall invest at least 95% of the net assets of the scheme in Silver or Silver related instruments.
Validity of the NOC for imported Alcoholic Beverages Bottled in Origin & in Bulk shall be 300 days
Imported consignments of Alcoholic Beverages Bottled in Origin & in Bulk, containing more than 10 percent alcohol which does not have an expiry date, the NOC issued as per the FSS (Import) Regulations, 2017 shall have a validity of 300 days.
Clarification on Import of wireless equipment by Telecom Service Providers (TSPs) on the basis of self-declaration
Applicant shall submit all the relevant details on Saralsanchar Portal atleast 30 days in advance from the date of destination port entry. Applicant can immediately download a system generated certificate after online payment of fees of Rs. 500 and self-declaration.
