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National – Across the India:
1. The Union Cabinet has approved proposal of extending the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY).
The deadline will be completing on March 31, 2017.
States shall take over 75% of ailing DISCOM (Power Distribution companies) debt as on 30th September, 2015 by 31st March, 2017 by issuing Bonds.
The UDAY scheme aims at bringing ailing power discoms to a state of operational efficiency, with state governments taking over up to 75% of their respective debt and issuing sovereign bonds to pay back the lenders.
2. The Union Cabinet has given its approval for a special package for employment generation and promotion of exports in Textile and Apparel sector.
Prime Minister Narendra Modi has taken the decision in the Union Cabinet meeting in New Delhi.
According to the Employee Provident Fund (EPF) Scheme Reforms Union Government will bear entire 12% EPF Scheme contribution of the new employees for first 3 years. Provided they should earn less than 15,000 rupees per month.
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Appointments & Resignations:
1. Ken Miyauchi has been appointed as the President and Chief Operating Officer (COO) of the Japanese conglomerate SoftBank Group.
He will succeed Nikesh Arora who had stepped down from his position after the Chairman and CEO of Group Masayoshi Son wanted to remain at the helm longer than first planned.
SoftBank Group is a Japanese multinational telecommunications and Internet corporation established in 1981 in Tokyo.
Memorandum of Understanding (MoU):
1. The Union Cabinet has given its approval to the signing of a Protocol amending the Agreement between India and Belgium for avoidance of double taxation.
Decision in this regard was taken in the Union Cabinet meeting under the chairmanship of Prime Minister Narendra Modi.
The amendment in the Protocol will broaden the scope of the existing framework of exchange of tax related information between the two countries.
Economics & Banking GK:
1. The Union Cabinet has approved setting up of Fund of Funds for Startups (FFS) under Small Industries Development Bank of India (SIDBI) for extending support to Startups.
This 10,000 rupees corpus fund will be established in line with the Startup India Action Plan, an initiative of Department of Industrial Policy & Promotion (DIPP) which was unveiled by Union Government in January 2016.
The FFS will be used for the contribution of various Alternative Investment Funds (AIF) registered with Securities and Exchange Board of India (SEBI) to extend funding support to Startups.
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Science & Technology:
The Union Cabinet under Chairmanship of Prime Minister Narendra Modi has approved mega auction of all available spectrum (more than 2300 Megahertz) across the seven bands.
This decision will pave way for the largest-ever spectrum auction in the country and could potentially fetch the exchequer about 5.5 lakh crore ruppees going by the reserve price.
The airwaves in the seven spectrum bands to be auctioned are 700, 800, 900, 1800, 2100, 2300 and 2500 MHz.
1. Every year 23 June is being observed as the United Nations Public Service Day by the United Nations (UN).
The day is celebrated to mark the invaluable contributions of public servants and administrators to build a better world for all.
This for the first time, the day is observed after the 2030 Agenda for Sustainable Development (i.e. Sustainable Development Goals) were adopted by all member states of United Nations.
Daily GK Eduwrap will help you keeping aware about all the major happenings of the country and the world and update your current affairs/general knowledge.
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