Reserve Bank of India

05.11.2018

Banking

Reserve Bank of India imposes monetary penalty on FINO Payments Bank Limited

MANU/RPRL/0105/2018

The Reserve Bank of India (RBI) has, on October 31, 2018, imposed a monetary penalty of Rs. 10 million on FINO Payments Bank Limited (the bank) for contravention of the direction to stop opening of new accounts until further instructions on account of violation of certain licensing conditions and operating guidelines for payments bank. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949.

Tags : Penalty Imposition Bank Limited

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Ministry of Finance 

05.11.2018

Customs

Powers to be exercised by the Principal Chief Commissioner or Chief Commissioner of Customs for the purposes assigning the cases for adjudication of show cause notices issued

MANU/CUSN/0114/2018

In exercise of powers conferred by clause (a) of section 152 of the Customs Act, 1962 (52 of 1962), the Central Government hereby directs that the powers exercisable by the Central Board of Indirect Taxes and Customs under sub-section (1) of section 5 of the Customs Act, 1962, shall also be exercised by the Principal Chief Commissioner or Chief Commissioner of Customs for the purposes assigning the cases for adjudication of show cause notices issued under the provisions of the said Act or rules, regulations made there under, within his jurisdiction.

Tags : Cases Adjudication Powers

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Press Information Bureau

05.11.2018

Civil

MoU signed between Ministry of Youth Affairs and Sports of India and the Ministry of Culture, Sports and Tourism of the Republic of Korea

MANU/PIBU/1502/2018

A Memorandum of Understanding (MoU) was signed between the Ministry of Youth Affairs and Sports of India and the Ministry of Culture, Sports and Tourism of the Republic of Korea on sports cooperation here today. From Indian side the MoU was signed by the Minister of State(I/C) Youth Affairs and Sports Col. Rajyavardhan Rathore and the Korean side was represented by their Minister of Culture, Sports and Tourism H.E DO JONGHWAN.

The objective of this Memorandum of Understanding (MoU) is to establish a framework to facilitate and promote cooperation between the two countries on the basis of reciprocity and mutual benefit. The cooperation under this MoU may include areas like (a) Exchange of coaches, athletes, experts; (b) Exchange of scientific and methodical materials (c) Joint training for athletes and officials; (d) Participation in sports event, seminars, symposia and conferences organized by either country etc. The two countries will encourage exchanges and cooperative actions between sports authorities, sports federations and other sports bodies in the different areas of cooperation, as jointly decided.

Expressing happiness over the signing of the MoU, Col. Rajyavardhan Rathore said that such initiative would broaden the cooperation between the two countries not only in the field of sports but also in other areas. He further stated that two countries must also collaborate in sports such as Archery and Taekwondo where Republic of Korea is one of the pioneer countries. The best practices in management of sports infrastructure, governance of sports followed by the Republic of Koreas need to be studied for improvement in our system, he added.

Speaking on the occasion, Minister of Culture, Sports and Tourism H.E. DO JONGHWAN said that his country always looks forward to working with India in Sports. Relationship with India is priority for their leadership and they would be happy to provide assistance to India in areas of common interest. The Korean side invited Hon'ble Minister to visit their country.

Col. Rajyavardhan Rathore presented an audio collection of Ram Charit Manas and Quotes of Mahatama Gandhi to the Korean Minister.

Tags : MoU Signing of Sports

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Press Information Bureau

05.11.2018

Civil

India and the Republic of Korea sign MoU for strengthening cooperation in the field of Tourism

MANU/PIBU/1504/2018

The Ministry of Tourism signed a Memorandum of Understanding with the Ministry of Culture, Sports and Tourism, Government for the Republic of Korea for strengthening cooperation in the field of Tourism in New Delhi today. Shri. K J Alphons, Union Tourism Minister and Mr. Do Jong-hwan Korean, Minister for Culture, Tourism and Sports, Republic of Korea signed the MoU and officials from the Ministry and their counterparts from the Korean side were also present during the signing ceremony. The MoU was signed by two parties desiring to strengthen and further develop the established relationship for strengthening cooperation in the field of Tourism.

The main objectives of the Memorandum of Understanding are:

a.To expand bilateral cooperation in tourism sector

b.To increase Exchange of information and data related to tourism

c.To encourage cooperation between tourism stakeholders including Hotels and Tour Operators

d.To establish exchange programmes for cooperation in Human Resources Development

e.To encourage Investment in the Tourism and Hospitality sectors

f.To exchange visits of Tour Operators / Media / Opinion Makers for promotion of two way tourism

g.To exchange experience in the areas of promotion, marketing destination development and management

h.To encourage participation in travel fairs/exhibitions in each other's country

a.To promote safe, honorable and sustainable tourism

The Republic of Korea is one of the leading tourists generating market for India from East Asia. Foreign Tourist Arrivals (FTAs) from the Republic of Korea in 2017 were 1, 42, 383 and during January-September were 1, 08,901(provisional figure). The signing of Memorandum of Understanding with Korea will be instrumental in increasing tourist arrivals from this source market.

Tags : MoU Signing of Tourism

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Ministry of Micro, Small and Medium Enterprises

02.11.2018

Civil

Requirement that all registered companies having a turnover of more than Rs 500 crore as well as CPSE’s shall be on board the Trade Receivable Discounting Platform

MANU/MSME/0004/2018

In exercise of powers conferred by section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), the Central Government hereby issues the following instructions that all companies registered with the Companies Act, 2013 (18 of 2013) with a turnover of more than Rs. 500 crore (rupees five hundred crore) and all Central Public Sector Enterprises shall be required to get themselves on boarded on the Trade Receivables Discounting System platform, set up as per the notification of the Reserve Bank of India. The Registrar of Companies in each State shall be the competent authority to monitor the compliance of these instructions by companies under its jurisdiction and the Department of Public Enterprises, Government of India shall be the competent authority to monitor the compliance of such instructions by Central Public Sector Enterprises.

Tags : Instructions Issuance Turnover Trade Receivables Discounting System

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Ministry of Commerce and Industry

01.11.2018

Law of Evidence

Extension of date for implementation of the Track and Trace system for export of Pharmaceuticals and drug consignments

MANU/DGFT/0183/2018

In exercise of the powers conferred under Paragraph 2.04 of the Foreign Trade Policy, 2015-20, as amended from time to time, the Director General of Foreign Trade hereby amends Para 2.90A of Handbook of Procedure - 2015-20, as notified vide Public Notice No. 43/2015-20 dated 05.12.2017 read with Public Notice No. 52 / 2015-20 dated 05.01.2016 and No. 05/2015-20 dated 09.05.2018 on laying down the procedure for implementation of the Track and Trace system for export consignments of drug formulations.

2. In Para 2.90 A (vi) and (vii) of Handbook of Procedure - 2015-20 (as amended vide Public Notice No. 05/2015-20 dated 09.05.2018), "15.11.2018" may be substituted by "01.07.2019".

3. Effect of this Public Notice:

The date for implementation of Track and Trace system for export of drug formulations with respect to maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended upto 01.07.2019 for both SSI and non SSI manufactured drugs.

Tags : Implementation Trace system Export Pharmaceuticals

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Press Information Bureau

01.11.2018

Civil

Approval for a resolution in the First Assembly of ISA for amendment of the Framework Agreement

MANU/PIBU/1493/2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given ex-post facto approval for moving a Resolution in the first Assembly of the International Solar Alliance (ISA) for amending the Framework Agreement of the ISA for opening up the ISA membership to all countries that are members of the United Nations.

Benefits:

Opening the membership of the ISA will put solar energy in global agenda with the universal appeal for developing and deploying solar energy. It will make ISA inclusive, whereby all member countries that are members of the United Nations could become member. Expanding membership will lead to ISA initiative benefiting the world at large.

Tags : Resolution Approval Framework Agreement Amendment

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