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Press Information Bureau

18.06.2020

Civil

NRDC Licenses NavRakshak PPE Suit Manufacturing Know-how to Five MSMEs Developed by Indian Navy

MANU/PIBU/1692/2020

National Research Development Corporation (NRDC) has licensed the manufacturing know-how of a PPE Suit being named as NavRakshak to five MSME clients: M/s Greenfield Vintrade Pvt Ltd (Kolkata), M/s Vaishnavi Global Pvt Ltd (Mumbai), M/s Bharat Silks (Bangalore), M/s Sure Safety (India) Ltd (Vadodara) and M/s Swaps Couture (Mumbai) to meet the ongoing country wide demand of quality PPE kits. These five manufacturers put together are planning to mass produce more than 10 million PPEs per year.

The manufacturing know-how of NavRakshak PPE has been developed at the Innovation Cell of the Institute of Naval Medicine, INHS Asvini Hospital (Mumbai) of the Indian Navy from where the name 'NavRakshak' is derived. The PPE has been tested and certified at the INMAS, DRDO which is one of the nine NABL accredited labs authorised by Ministry of Textile currently in India for PPE prototype sample testing as per the prevailing ISO standards and Ministry of Health & Family Welfare/Ministry of Textile guidelines and has been found to meet the synthetic blood penetration resistance criteria for both the fabric, suit, and seam. It is cost effective as it does not require any major capital investment and can be adopted even by gown manufacturing units using basic stitching expertise. The technology and quality of fabric is so superior that there is no need of sealing around the seam of the PPE suit, thus eliminating the need of importing costly sealing machines and tapes. The PPE fabric even does not require any lamination with polymer or plastic-like film. This enables the PPE to permeate heat and moisture from the skin of the user. It gives protection but does not compromise on comfort. This uniqueness of the PPE makes it way different from the existing PPEs which are being used during the ongoing COVID pandemic.

The PPE suit is available in single-ply as well as double-ply versions as per the need of the end use conditions. It also comes with a head gear; face mask and shoe cover up to the mid-thigh level.

With the country significantly ramping up the production of PPE suits to end its import dependence, there has been several news reports mentioning the flooding of market with dubious-quality PPE kits. While there has been a clarion call to strictly implement the testing and certification standards for manufacturers, a quality product is also the need of the hour. NavRakshak has been designed by a Naval doctor incorporating personal experience in using the PPE for the comfort and protection of the doctors. The enhanced breathability factor in the PPE suit makes it an attractive proposition to be used by the frontline health workers who are required to wear these suits for long hours and face extreme discomfort while working.

Intellectual Property Facilitation Cell of Directorate General of Quality Assurance (DGQA), Department Of Defence Production , Ministry of Defence along with Indian Navy and NRDC partnered in protecting the IP and its commercialisation. Since the concept of using uncoated, unlaminated or untapped PPE has been provided for the first time, and using such PPE was not practised at all, there was a need to protect the IP rights of this innovation. A patent application has been filed for the NavRakshak PPE by the inventors through NRDC. This technology can resolve many issues at one go. It makes manufacturing easy without requiring big capital investment. It does not require coating and taping related equipment. Therefore, foreign import and costly machines are not required. It gives protection as well as comfort to the user. Above all, it gives self-sustainability to the country. In future, it may so happen that this simple yet highly effective PPE suit may become the benchmark standard of PPEs.

Tags : Licenses PPE Suit Know-how MSMEs

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Press Information Bureau

18.06.2020

Civil

PM Modi to launch Garib Kalyan Rojgar Abhiyaan on 20th June to boost livelihood opportunities in Rural India

MANU/PIBU/1695/2020

Government of India has decided to launch a massive rural public works scheme 'Garib Kalyan Rojgar Abhiyaan' to empower and provide livelihood opportunities to the returnee migrant workers and rural citizens. PM Modi will launch this Abhiyaan on 20th June, 2020 at 11 am through Video-Conference in presence of the Chief Minister and Deputy Chief Minister of Bihar. The Abhiyaan will be launched from Village - Telihar, Block- Beldaur of Khagaria District of Bihar. Further, the Chief Ministers of other five States and Union Ministers of concerned Ministries will also participate in the virtual launch. The villages across 116 districts in the six States will join this programme through the Common Service Centres and Krishi Vigyan Kendras, maintaining the norms of social distancing in the wake of the Covid-19 pandemic.

This campaign of 125 days, which will work in mission mode, will involve intensified and focused implementation of 25 different types of works to provide employment to the migrant workers on one hand and create infrastructure in the rural regions of the country on the other hand, with a resource envelope of Rs. 50,000 crore.

A total of 116 Districts with more than 25,000 returnee migrant workers across six States, namely Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan, Jharkhand and Odisha have been chosen for the campaign which includes 27 Aspirational Districts. These districts are estimated to cover about 2/3 of such migrant workers.

The Abhiyaan will be a coordinated effort between 12 different Ministries/Departments, namely, Rural Development, Panchayati Raj, Road Transport & Highways, Mines, Drinking Water & Sanitation, Environment, Railways, Petroleum & Natural Gas, New & Renewable Energy, Border Roads, Telecom and Agriculture.

Tags : Rojgar Abhiyaan launch Livelihood opportunities

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Reserve Bank of India

18.06.2020

Banking

24th Meeting of the FSDC Sub-Committee over Video Conference

MANU/RPRL/0095/2020

A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was held through video conference. Shri Shaktikanta Das, Governor, Reserve Bank of India, chaired the meeting.

The meeting was attended by the members of the Sub-Committee. Welcoming the participants, Governor, in his introductory remarks underlined the importance of this meeting, being held for the first time after the breakout of the pandemic and as a follow-up of the last FSDC meeting held on May 28, 2020 with the Hon'ble Finance Minister as Chair. The Governor also noted that there have been frequent interactions among regulators and ministries in the intervening period. The FSDC-SC remains as an important forum for discussions between the various ministries of the Government with the regulators and among the regulators as well.

The Sub-Committee reviewed the major developments in global and domestic economy and financial markets that impinge upon financial stability. Amongst other things, the Sub-Committee also discussed about the proposal of setting up of an Inter Regulatory Technical Group on Fintech (IRTG-Fintech) and the National Strategy on Financial Education (NSFE) 2020-2025. It also deliberated upon the status and developments under the Insolvency and Bankruptcy Code (IBC), 2016 and the working of credit rating agencies. Overall, given the prevailing extraordinary circumstances, the Sub Committee unanimously resolved that (a) every participating regulator and ministry will continue to remain alert and watchful of the emerging challenges; (b) interact more frequently, both formally and informally, as also collectively; and (c) do whatever is necessary to revive the economy and preserve financial stability.

Tags : Meeting FSDC Video Conference

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Reserve Bank of India

17.06.2020

Banking

RBI releases proposed changes in regulations applicable to Housing Finance Companies for public comments

MANU/RPRL/0094/2020

Post transfer of regulation of HFCs from National Housing Bank (NHB) to Reserve Bank with effect from 9th August , 2019, a Press Release dated August 13, 2019 was issued stating that Reserve Bank will carry out a review of the extant regulatory framework applicable to HFCs and come out with revised regulations in due course, and till such time HFCs shall continue to comply with the directions and instructions issued by NHB.

2. The Reserve Bank has undertaken the said review and has identified a few changes which are proposed to be prescribed for HFCs. These are as follows:

a. Defining principal business and qualifying assets for HFCs;

b. Defining the phrase 'providing finance for housing' or 'housing finance';

c. Classifying HFCs as systemically important (asset size of Rs. 500 crore & above) and non-systemically important (asset size less than Rs. 500 crore); and

d. Reserve Bank's directions on Liquidity Risk framework &, LCR, securitisation, etc., for NBFCs, to be made applicable to HFCs.

3. The Reserve Bank has, today, placed a draft of the changes proposed as above on its website. The Reserve Bank seeks public comments on the draft framework for consideration before issuing the final guidelines. Responses of HFCs, market participants and other stakeholders may be sent latest by July 15, 2020 over email with subject line 'Feedback - proposed changes to regulations applicable to HFCs'.

Tags : Changes Regulations Housing Finance Companies for

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Ministry of Corporate Affairs

17.06.2020

Company

Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013

MANU/DCAF/0077/2020

1.The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2013 (Act), i.e. a total of 120 days of the creation or modification of charge. In case, the company fails to register the charge within the period of thirty days referred to in sub-section (1) of section 77, the charge holder may file the form related to creation or modification of charges under section 78 of the Act, within the overall timelines for filing of such form under section 77.

2. On account of the pandemic caused by the COVID-19, representations have been received in this Ministry, requesting that the timelines related to filing of certain charge related forms may be suitably relaxed so as to provide a window of compliance for the registration of charges. Under the Companies Fresh Start Scheme, 2020 as laid out in the General Circular No. 12/2020, dated 30.03.2020, the benefit of waiver of additional fees was not extended to the charge related documents. Therefore, it has been suggested that some dispensation may be provided for filing of charge related documents as well.

3. In view of the above, the Central Government in exercise of its powers under section 460 read with section 403 of the Act and the Companies (Registration Offices and Fees) Rules, 2014 (Fees Rules) has decided to introduce a Scheme, namely "Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013" for the purpose of condoning the delay in filing certain forms related to creation/modification of charges.

4. The details of the scheme are as under:-

(i) The scheme shall come into effect from the date of issue of this Circular.

(ii) Applicability: The scheme shall be applicable in respect of filing of Form No. CHG-1 and Form No. CHG-9 (both referred as 'form' or 'forms') by a company or a charge holder, where the date of creation/modification of charge:

(a) is before 01.03.2020, but the timeline for filing such form had not expired under section 77 of the Act as on 01.03.2020, or

(b) falls on any date between 01.03.2020 to 30.09.2020 (both dates inclusive).

(iii) Relaxation of time:

(a) In case a form is filed in respect of a situation covered under sub-para (ii)(a) above, the period beginning from 01.03.2020 and ending on 30.09.2020 shall not be reckoned for the purpose of counting the number of days under section 77 or section 78 of the Act. In case, the form is not filed within such period, the first day after 29.02.2020 shall be reckoned as 01.10.2020 for the purpose of counting the number of days within which the form is required to be filed under section 77 or section 78 of the Act.

(b) In case a form is filed in respect of a situation covered under sub-para (ii)(b) above, the period beginning from the date of creation/modification of charge to 30.09.2020 shall not be reckoned for the purpose of counting of days under section 77 or section 78 of the Act. In case, the form is not filed within such period, the first day after the date of creation/modification of charge shall be reckoned as 01.10.2020 for the purpose of counting the number of days within which the form is required to be filed under section 77 or section 78 of the Act.

(iv) Applicable Fees:

(a) In regard to sub-para (iii)(a) above, if the form is filed on or before 30.09.2020, the fees payable as on 29.02.2020 under the Fees Rules for the said form shall be charged. If the form is filed thereafter, the applicable fees shall be charged under the Fees Rules after adding the number of days beginning from 01.10.2020 and ending on the date of filing plus the time period lapsed from the date of the creation of charge till 29.02.2020.

(b) In regard to sub-para (iii)(b) above, if the form is filed before 30.09.2020, normal fees shall be payable under the Fees Rules. If the form is filed thereafter, the first day after the date of creation/modification of charge shall be reckoned as 01.10.2020 and the number of days till the date of filing of the form shall be counted accordingly for the purposes of payment of fees under the Fees Rules.

(v) The Scheme shall not apply, in case:

(a) The forms i.e. CHG-1 and CHG-9 had already been filed before the date of issue of this Circular.

(b) The timeline for filing the form has already expired under section 77 or section 78 of the Act prior to 01.03.2020.

(c) The timeline for filing the form expires at a future date, despite exclusion of the time provided in sub-para (iii) above.

(d) Filing of Form CHG-4 for satisfaction of charges.

5. This issues with the approval of the Competent Authority.

Tags : Scheme Relaxation Time

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Ministry of Corporate Affairs

15.06.2020

Company

Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 read with rules made thereunder on account of Covid-19-Extension of time

MANU/DCAF/0076/2020

This Ministry has issued General Circular No. 14/2020 on 8th April, 2020 and General Circular No. 17/2020 on 13th April, 2020 for providing clarifications on passing of ordinary and special resolutions by companies by holding extraordinary general meetings (EGMs) through video conferencing (VC) or other audio visual means (OAVM) or passing of certain items only through postal ballot without convening general meeting. The framework provided in the said Circulars allows companies to hold relevant EGMs or transact relevant business through postal ballots, as per procedure specified therein, upto 30th June, 2020 or till further orders, whichever is earlier.

Requests have been received from the stakeholders for extending the period upto which the framework provided in the aforesaid Circulars may be utilized by the companies.

2. The matter has been examined and it has been decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with the framework provided in the aforesaid Circulars upto 30th September, 2020. All other requirements provided in the said Circulars remain unchanged.

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

Tags : Clarification Resolutions Covid-19-Extension of time

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Press Information Bureau

15.06.2020

Civil

India joins Global Partnership on Artificial Intelligence as a founding member to support the responsible and human-centric development and use of AI

MANU/PIBU/1646/2020

India today joined the league of leading economies including USA, UK, EU, Australia, Canada, France, Germany, Italy, Japan, Mexico, New Zealand, Republic of Korea, Singapore to launch the Global Partnership on Artificial Intelligence (GPAI or Gee-Pay). GPAI is an international and multi-stakeholder initiative to guide the responsible development and use of AI, grounded in human rights, inclusion, diversity, innovation, and economic growth. This is also a first initiative of its type for evolving better understanding of the challenges and opportunities around AI using the experience and diversity of participating countries. In order to achieve this goal, the initiative will look to bridge the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.

In collaboration with partners and international organizations, GPAI will bring together leading experts from industry, civil society, governments, and academia to collaborate to promote responsible evolution of AI and will also evolve methodologies to show how AI can be leveraged to better respond to the present global crisis around COVID-19.

It is pertinent to note that India has recently launched National AI Strategy and National AI Portal and have also started leveraging AI across various sectors such as education, agriculture, healthcare, e-commerce, finance, telecommunications, etc. with inclusion and empowerment of human being approach by supplementing growth and development. By joining GPAI as a founding member, India will actively participate in the global development of Artificial Intelligence, leveraging upon its experience around use of digital technologies for inclusive growth.

GPAI will be supported by a Secretariat, to be hosted by Organization for Economic Cooperation and Development (OECD) in Paris, as well as by two Centers of Expertise- one each in Montreal and Paris.

Tags : Global Partnership Artificial Intelligence

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