Month: February 2021

Bill gates predicted on the outbreak of COVID-19, warns on 2 more upcoming disasters

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Microsoft co-founder Bill Gates again warned about the two more disasters that could devastate the entire globe.   Bill Gates spoke in a TED Talk in 2015 titled “The next outbreak? We’re not ready” is being shared widely online in recent weeks given the impact of COVID-19 around the world.   “If anything kills over 10 million people in the next few decades, it’s likely to be a highly infectious virus rather than a war,” Gates said during the Ted Talk. “Not missiles, but microbes.”   Two years later, he…

Will transfer Rs 2.2 lakh crore NPAs to ‘bad bank’: Debasish Panda

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Debasish Panda, Financial services secretary is responsible for implementing some of the key measures – from privatising two banks and a general insurer to setting up a development financial institution and faster payment of depositors stuck in ailing banks.  In an interview, Panda explains the strategy behind the proposals. Excerpts:  The budget has increased the FDI limit in insurance to 74% from 49%. What is the kind of inflow that you have estimated and how do you ensure there are safeguards? Given the widespread concerns raised towards individual and organizational protections…

BJP to start its political Yatra nearing WB election

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The Union Home Minister Amit Shah will flag off the second one from Cooch Behar on February 11. In all it’s five yatras will cover all the Assembly constituencies of the State.    A question is on why, BJP depends upon the Rath Yatra as the auspicious jounrney by the name of sri Lord Ram. However, experts says, they should fight against their business and political achievements.   The political party BJP to start its campaign with big guns in West Bengal with the launch of a series of “Parivartan…

FM Sitharaman announces to privatise bank

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Finance Minister Nirmala Sitharaman during Budget 2021 announced the plan to privatise two state-run banks, other than IDBI Bank. It is assumed that the banks which are not in the list of mergers will undergo privatisation process. The government is in the process of merging 13 banks into five banks.   According to Anil Gupta, Vice-President and sector head, financial sector ratings, ICRA, Punjab and Sind Bank and Bank of Maharashtra looked probable candidates for privatisation.   This is mainly because of the six banks kept out of merger, Indian Overseas Bank, Central Bank…

India inks 48,000 crore Tejas aircraft deal

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The government has formally sealed a ₹48,000 crore deal to procure 83 Tejas light combat aircraft from state-run aerospace behemoth Hindustan Aeronautics Ltd (HAL).   Director General (Acquisition), Ministry of Defence, V L Kantha Rao handed over the contract to Chairman and Managing Director of HAL, R Madhavan, at the inaugural ceremony of Aero India-2021, the country’s premier defence and aerospace show, here, in the presence of Defence Minister Rajnath Singh.Tejas, manufactured by the HAL, is a single engine and highly agile multi-role supersonic fighter aircraft capable of operating in…

Govt scraps GST; No need to file GST 9-C

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The Union Finance Minister Nirmala Sitharaman proposed to omit the requirement of furnishing the GSTR audit report in the form GSTR-9C, while presenting the Budget 2021 before the Parliament.   The GSTR-9C is a reconciliation statement required to be furnished by a taxpayer whose turnover exceeds Rs.2 crore in a financial year while filing his annual return in form GSTR-9.   As per the Finance Bill 2021, “In section 35 of the Central Goods and Services Tax Act, sub-section (5) shall be omitted.”   In the last four years, the…

Banking Compliance In The Country Become Difficult For The SMEs To Operate

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A new regulatory compliance being circulated by the axis bank, any company enjoys any credit limit ( CC or Cash limit), it has to be in the same bank. The circular further says, if any enterprise is having multiple limit accounts( one or above one) in the multiple bank, they have to bring down to single bank, that to they have to follow the guiding principle of the bank.   Every company has to produce customer declaration for not availed credit facilities in the form of CC/OD from the banking…

OTT platform content shall go through Govt scanner: Prakash Javdekar

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The Ministry of Information and Broadcasting will soon release a set of guidelines to regulate content on Over-the-Top (OTT) streaming platforms such as Netflix and Amazon Prime in view of the rising number of complaints against them, said the Union Minister Prakash Javadekar.   Speaking to a news agency, Javadekar said: “We have received a lot of complaints against some serials available on OTT platforms. Films and serials released on OTT platforms and digital newspapers do not come under the purview of the Press Council Act, Cable Television Networks (Regulation)…

Modi govt aims to transform India through access, inclusion, empowerment

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Prime Minister Narendra Modi on Thursday told the global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security.   Modi was addressing the World Economic Forum’s online Davos Agenda Summit, where he also interacted with global business leaders. He said India offers a predictable and friendly environment from tax regime to FDI norms.   He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country’s digital profile has been completely transformed.  …