Insurance Regulatory and Development Authority

29.08.2018

Insurance

Natural calamity - relaxation of grace period for payment of renewal premium in the State of Kerala and flood affected districts of Karnataka

MANU/IRDA/0026/2018

It has come to the notice of the Authority that due to recent heavy rains and floods in the state of Kerala and Karnataka, normal life has been severely affected and disrupted. Policyholders are facing difficulties in timely payment of renewal premiums which might have already become due for payment. Coverage under such policies may get lapsed due to non-payment of renewal premiums.

Under the circumstances, all life insurance companies are hereby instructed to facilitate such payment of renewal premiums by way of extending the existing grace period of 15 days or 30 days, as applicable to 60 days for payment of premiums due during the period from 15th July, 2018 to 30th September, 2018 for Kerala and for flood affected districts of the state of Karnataka.

This circular is issued in exercise of the power vested on the Authority under Section 14(2)(b) of the IRDA Act, 1999.

This is issued with the approval of the competent Authority.

Tags : Natural calamity Relaxation grace period Payment Renewal premium

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Press Information Bureau

29.08.2018

Civil

Cabinet apprised of the MoU between India and Republic of Korea on the cooperation in the field of railways

MANU/PIBU/1291/2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) on the cooperation between Research Designs and Standards Organisation (RDSO), India and Republic of Korea Railroad Research Institute (KRRI) to strengthen and promote scientific and technical cooperation in the field of railways. The MoU was signed on 10th July 2018.

Impact:

The MoU will provide a platform for Indian Railways to interact and share the latest developments and knowledge in the railway sector with its Korean counterpart. It will facilitate exchange of technical experts, reports and technical documents, training and seminars/ workshops focusing on specific technology areas and other interactions for knowledge sharing.

Details:

The MoU will provide a framework of cooperation for focused approach in following key areas:-

a. Planning and execution of Joint research for the mutual interests;

b. Co-operation in setting up of latest railway R&D facilities in India;

c. Planning and execution of Technical seminar or forum;

d. Short Term Training Programme for RDSO personnel by KRRI;

e. Exchange Programme of Personnel between KRRI & RDSO for limited period, for specific Projects;

f. Consultancy for the development of railway industry of both the countries; and

g. Any other form of cooperative activities agreed upon by the Parties.

Background:

Ministry of Railways have signed MoUs for technical cooperation in the Rail sector with various foreign Governments and National Railways. The identified areas of cooperation include high speed corridors, speed raising of existing routes, development of world class stations, heavy haul operations and modernization of rail infrastructure, etc. The cooperation is achieved through exchange of information on developments in areas of railways technology & operations, knowledge sharing, technical visits, training & seminars and workshops in areas of mutual interest.

Tags : MoU Cooperation Railways

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Press Information Bureau

29.08.2018

Civil

Cabinet approves signing of Air Services Agreement between India and Morocco

MANU/PIBU/1293/2018

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the revised air services agreement to be signed between India and Morocco. After the new Air Services Agreement comes into force, the existing Air Services Agreement of December, 2004 shall stand superseded.

Benefits:

The Air Services Agreement signifies an important landmark in the civil aviation relations between India and Morocco and has the potential to spur greater trade, investment, tourism and cultural exchanges between the two countries. It will provide enabling environment for enhanced and seamless connectivity while providing commercial opportunities to the carriers of both the sides ensuring greater safety and security.

Details:

Major features of the Agreement include:

i) Multiple designation of Airlines by each party;

ii) The designated Airline of each party can enter into cooperative marketing arrangements with the designated carriers of same party, other party and that of a third party;

iii) This agreement allows designated airlines of either countries to establish offices in the territory of other country for the promotion and sale of air services;

iv) The designated airlines of the both countries can operate any number of services to/from the six points specified in the Route Schedule to the ASA viz. Indian designated carriers can operate any number of services to/from Casablanca, Rabat, Marrakesh, Agadir, Tangier and Fez in Morocco and similarly the designated carriers of Morocco can operate any number of services to/from New Delhi, Mumbai, Kolkata, Chennai, Bengaluru and Hyderabad.

v) Air Services Agreement also has the provisions relating to Revocation or Suspension of Operating Authorization, Principles governing operations of agreed services, commercial opportunities, safety and security related clause etc. that have been incorporated in line of Indian Model ASA.

Background:

Keeping in view of the growth in the civil aviation sector and also with a view to modernize and improve seamless air connectivity between the two sovereign nations, the existing Air Services Agreement between India and Morocco has been updated.

The existing Air Services Agreement between India and Morocco was signed in year 2004 and does not have the updated clauses on Safety, Security, Designation of Airlines, Commercial Activities, Tariffs etc. Besides, the provisions of Cooperative Marketing Arrangements which enable both sides to establish the code share on each other flights and also on the flights of 3rd country carriers are also not available in the present Air Services Agreement.

Tags : Agreement Air services Approval

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Ministry of Commerce and Industry

29.08.2018

Customs

Shifting of Capital Goods imported under the EPCG Scheme

MANU/DGFT/0148/2018

In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP) 2015-20, the Director General of Foreign Trade in public interest hereby makes the following amendment in the Para 5.04(a) of Hand Book of Procedures 2015-20. The amended para is produced below:

Para 5.04(a): Certificate of Installation of Capital Goods

Authorization holder shall produce, within six months from date of completion of import, to the concerned RA, a certificate from the jurisdictional Customs authority or an independent Chartered Engineer, at the option of the authorisation holder, confirming installation of capital goods at factory/premises of authorization holder or his supporting manufacturer(s). The RA may allow one time extension of the said period for producing the certificate by a maximum period of 12 months with a composition fee of Rs.5000/-. Where the authorisation holder opts for independent Chartered Engineer's certificate, he shall send a copy of the certificate to the jurisdictional Customs Authority for intimation/record. The authorization holder shall be permitted to shift capital goods during the entire export obligation period to other units mentioned in the IEC and RCMC of the authorization holder subject to production of fresh installation certificate to the RA concerned within six months of the shifting."

Effect of this Public Notice: EPCG authorisation holders are permitted to shift the capital goods imported during the entire export obligation period to their other units mentioned in the IEC and RCMC subject to conditions specified.

Tags : Capital Goods Import EPCG Scheme

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Ministry of Commerce and Industry

29.08.2018

Commercial

New E-Com module for SEIS, ANF 3B to be available from 20.09.2018 for application

MANU/DGFT/0150/2018

This Directorate has notified the form ANF 3B, vide Public Notice 15/2015-20 dated 28.06.2018. Vide Trade Notice 22/2018-19, dated 30.07.2018 all the RAs and the members of trade were informed that the E corn module for applying for SEIS based on the new ANF 3B would be available from 01.09.2018.

2. However, there is some delay due to testing of the module as this is a new module. The testing is in progress. Therefore, the exporters/members of trade are requested to apply in the online module for SEIS only after 20.09.2018.

3. Inconvenience caused is deeply regretted.

4. This issues with the approval of the competent authority.

Tags : E-Com module SEIS ANF 3B Availability

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Press Information Bureau

28.08.2018

Electricity

Government of India, Government of Rajasthan and World Bank sign a $250 Million Agreement to Support Electricity Distribution Sector Reforms in Rajasthan

MANU/PIBU/1289/2018

The Government of India, the Government of Rajasthan and the World Bank signed here today a $250 million Development Policy Loan (DPL) to support the Government of Rajasthan in improving the performance of its Electricity Distribution Sector under the State's 24x7 Power for All program. The Agreement for the Project was signed by Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India; Shri P. Ramesh, Special Secretary, Government of Rajasthan on behalf of the Government of Rajasthan; and Mr. Hisham Abdo, Acting Country Director, World Bank India, on behalf of the World Bank.

The Second Programmatic Electricity Distribution Reform Development Policy Loan for Rajasthan is the second in the series of two operations planned for a comprehensive turnaround of Rajasthan's electricity distribution sector. The First Loan closed in March 2017.

The Electricity Distribution Utilities (DISCOMs) in Rajasthan provide electricity to about 9.5 million customers. The key areas that the program will support include: Strengthening Governance in the Distribution Sector in the State by establishing Annual Performance MoUs between the DISCOMs and the State Government; putting in place a Performance Management System; providing incentives to employees for improving performance; Financial Restructuring and recovery in the Sector by transferring considerable amounts of the DISCOMs debt to the State; bringing in more discipline in the revenue requirements of DISCOMs; taking initiatives in reducing the costs of energy procurement; and improving the operational performance of the DISCOMs through initiatives like publishing feeder level energy audits and increased usage of IT among others.

Speaking on the occasion, Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance said that this Program is aligned to the Broader Reform Program, developed by the Government of India (GoI) and adopted by the Rajasthan Government, to improve the performance of DISCOMs in the State. He said that this will contribute to the State's Fiscal Sustainability, and the objective of 24x7 Power for All initiative, which aspires to provide continuous, reliable power supply to all households in Rajasthan by 2019.

This operation will deepen the Institutional and Operational Reforms that were launched in late 2015 centered around the Government of India's (GoIs) Ujwal DISCOM Assurance Yojna (UDAY), which Rajasthan joined in 2016 and the Rajasthan State Electricity Distribution Management Responsibility (RSEDMR) Act, which aims to reform the Governance of DISCOMs and bring greater public accountability in their functioning.

Mr. Hisham Abdo, Acting World Bank Country Director in India said that in its second phase, this Program will continue to support the ongoing reforms that the distribution companies are making for a financial turnaround. He further said that improved financial health of DISCOMS will help free-up the State's resources for spending on social sectors, allowing for businesses to grow and jobs to be created.

To address the concerns of affordability and access to electricity for the poor, the program also supports the Government of India's Domestic Efficient Lighting Program (DELP), under which more than 15 million LED lamps have been distributed in the State.

Mr. Rohit Mittal, Senior Energy Specialist and Mr. Frederico Gil Sander, Lead Economist of the World Bank and Task Team Leaders for the operation said that the Electricity Distribution Sector in Rajasthan has taken number of initiatives over the last few years that have helped in improving the operational and financial health of the DISCOMs. They said that it is important that the DISCOMs continue to focus on improving operational efficiency, consumer engagement and transparency in the sector among other initiatives to continue the positive trend in performance and steer the electricity distribution sector on a path to sustainable recovery.

The loan from the International Bank for Reconstruction and Development (IBRD), has a 3-year grace period, and a maturity of 21 years.

Tags : Agreement Signing of Electricity Distribution Reforms

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Press Information Bureau

28.08.2018

Power and Energy

Government of India and the World Bank sign $300 Million Agreement to help scale-up India's Energy Efficiency Program

MANU/PIBU/1290/2018

The Government of India and the World Bank signed here today a $220 million Loan Agreement and a $80 million Guarantee Agreement for the India Energy Efficiency Scale-Up Program. The Program, to be implemented by the Energy Efficiency Services Limited (EESL), will help scale-up the deployment of energy saving measures in residential and public sectors, strengthen EESL's institutional capacity, and enhance its access to commercial financing.

The Agreement for the Project was signed by Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India and Mr. Hisham Abdo, Acting Country Director, World Bank India, on behalf of the World Bank.

The investments under the Program are expected to avoid lifetime greenhouse gas emissions of 170 million tons of CO2, and contribute to avoiding an estimated 10 GW of additional generation capacity. This would be over 50 percent of the National Mission for Enhanced Energy Efficiency target of 19.6 GW indicated in India's Nationally Determined Contributions (NDCs) under the Paris Accord.

Speaking on the occasion, Mr. Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance said that the Program will help tackle the financing, awareness, technical and capacity barriers faced by new energy efficiency programs and support the UJALA program of the Government of India. He said that this is one of the several steps being taken by the Government of India to meet its climate change commitments to reduce carbon intensity by 33-35 percent by 2030.

The Key Components of the Operation include: Creating sustainable markets for LED lights and energy efficient ceiling fans; facilitating well-structured and scalable investments in public street lighting; developing sustainable business models for emerging market segments such as super-efficient air conditioning and agricultural water pumping systems; and strengthening the institutional capacity of EESL. Moreover, the Program will help to increase private sector participation in energy efficiency, including through private sector energy service companies. Under the Program, EESL will deploy 219 million LED bulbs and tube lights, 5.8 million ceiling fans, and 7.2 million street lights, which will be supplied by private sector manufacturers and suppliers.

As an integral part of the operation, the first-ever IBRD guarantee in India will help EESL access new markets for commercial financing in line with the Bank's approach of maximizing finance for development. The guarantee is expected to leverage some $200 million in additional financing, to help EESL with its growing portfolio and future investment needs.

Mr. Hisham Abdo, Acting World Bank Country Director in India said that this energy efficiency Program for Results will help India meet its NDC commitments and move further towards a more resource-efficient growth path. He further said that the additional guarantee from the World Bank will support EESL to access new sources of commercial funding, diversify its investor base, and establish a track record for future access to financial markets.

Demand for energy end-use appliances and equipment like lighting, ceiling fans, air conditioners, refrigerators, agricultural pumps, and industrial motors is projected to grow significantly in India. So far, through the "Unnat Jyoti by Affordable LEDs for All" (UJALA) program, EESL has already deployed more than 295 million LED bulbs, resulting in avoiding over 7,500 MW of new electricity generation capacity and bringing a significant drop in retail prices of high quality LED bulbs. The India Energy Efficiency Scale-Up Program will help EESL expand UJALA's deployment of efficient ceiling fans, LED street lights and LED tube lights, along with its already-successful LED bulbs procurement and distribution.

Under the Street Lighting National Program (SLNP) of EESL which has installed over 5.8 million LED street lights in three years across more than 500 municipalities, EESL enters into long-term annuity agreements with municipalities to retrofit existing streetlights with LED lamps and fixtures, and maintain them for up to seven years. The entire investment is made upfront by EESL and recovered from the energy savings of municipalities/cities. To realize the street lighting program's full market potential and its growing program, EESL will leverage the capacity and resources of the private energy service companies (ESCOs) to a wider range of commercial financing sources.

"India's energy efficiency market, estimated to be over $12 billion per year, continues to face implementation barriers, particularly in the residential and public sectors, which have some of the largest untapped potential for energy efficiency improvements. Building upon its experience of UJALA and SLNP, EESL is now expanding its initiatives to other energy efficiency measures," said Ashok Sarkar, Senior Energy Specialist and World Bank's Task Team Leader for the Program. "The financing under the India Energy Efficiency Scale-Up Program will not only help EESL to continue achieving the results under its existing initiatives but also strengthen its institutional capacity and ability to meet its future expanding needs by leveraging private ESCO industry and increased access to a wider range of external commercial financing sources," he added.

The $220 million loan, from the International Bank for Reconstruction and Development (IBRD) to EESL, has a 5-year grace period, and a maturity of 19 years. The $80 million IBRD guarantee will partially cover re-payment risks to commercial lenders or investors, to enable EESL to raise funds for its program.

Tags : Agreement Signing of Energy Efficiency Program

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Ministry of Human Resource Development

27.08.2018

Education

University Grants Commission (Minimum Standards and Procedure for Award of M.Phil/Ph.D Degrees) (1st Amendment) Regulations 2018

MANU/HRDT/0023/2018

F. No. 1-1/2002(PS)Exempt(Pt.Fl.III) Vol-II.--In exercise of the powers conferred under clauses (f) and (g) of sub-section (1) of Section 26 of University Grants Commission Act, 1956 (3 of 1956), the University Grants Commission hereby makes the following Regulations to amend to UGC (Minimum Standards and Procedure for Awards of M.Phil/Ph.D Degree) Regulations 2016.

1. Short title, application and commencement:

1.1. These Regulations may be called the University Grants Commission (Minimum Standards and Procedure for Award of M.Phil/Ph.D Degrees) (1st Amendment) Regulations 2018.

1.2 They shall come into force from the date of its publication in the Official Gazette.

2. The following proviso shall be added to the clause 5.4.1 of the University Grants Commission (Minimum Standards and Procedure for award of M.Phil/Ph.D Degrees) Regulations, 2016

"provided that a relaxation of 5 % of marks (from 50% to 45%) shall be allowed for the candidates belonging to SC/ST/OBC(Non-Creamy layers)/Differently-abled category in the entrance examination conducted by the Universities.

Provided further that, if in spite of the above relaxation, the seats allotted for SC/ST/OBC(Non Creamy layer)/Differently-Abled categories remain unfilled, the concerned Universities shall launch a Special Admission Drive, for that particular category within one month from the date of closure of admissions of General Category. The concerned University will devise its own admission procedure, along with eligibility conditions to ensure that most of the seats under these categories are filled."

Tags : Amendment Regulations UGC

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