Page-24 of Cabinet Decisions
Cabinet approves IRDAI's admission as a signatory to IAIS, MMoU
The Union Cabinet approved Insurance Regulatory and Development Authority’s (IRDAI) admission as a signatory to International Association of Insurance Supervisors (IAIS), Multilateral Memorandum of Understanding (MMoU). The IAIS is a global framework for cooperation and information exchange between insurance supervisors. ..
Month: Current Affairs - July, 2017
Union Cabinet approves Proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017
The Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017 which will provide a comprehensive resolution framework for financial sector entities to deal with bankruptcy situation in banks, insurance companies, and other entities. Salient ..
Month: Current Affairs - June, 2017
Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers
The Union cabinet has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme. Salient Highlights The objective of the scheme is to make available agricultural credit for Short Term ..
Month: Current Affairs - June, 2017
Union Cabinet Approves National Procurement Policy Giving Preference to Make in India
The Union Cabinet Chaired by Prime Minister has given its approval for a national procurement policy that gives preference to ‘Make In India’ in government procurements. The policy aims to maintain the balance between promoting ‘Make in India’ and ensuring timely, ..
Month: Current Affairs - May, 2017
Union Cabinet Approves Allocation of 2.5% of Central Road Fund for National Waterways Development
The Union Cabinet has given its approval for allocating 2.5% of the Central Road Fund (CRF) for the development of the National Waterways. Central Road Fund is a duty on excise and customs levied on petrol and high-speed diesel. Significance ..
Month: Current Affairs - May, 2017
Union Cabinet Approves Pharma Mission to Develop Bio-Pharmaceuticals
The Cabinet Committee on Economic Affairs (CCEA) has approved a collaborative mission between industry and academia called ‘Innovate in India empowering biotech entrepreneurs and accelerating inclusive innovation‘ that is aimed at accelerating research for early development of bio-pharmaceuticals. Salient Highlights The mission ..
Month: Current Affairs - May, 2017
Union Cabinet Approves Proposal to Build 10 Atomic Reactors
The Union Cabinet has cleared a proposal allowing for the construction of 10 indigenous Pressurised Heavy Water Reactors (PHWR). The reactors will have a capacity of 700 MW. These reactors will add 7000 MW capacity and will ramp up nuclear power generation in the country. ..
Month: Current Affairs - May, 2017
Union Cabinet clears Ordinance to tackle Bad Loans
The Union Cabinet has cleared an ordinance that seeks to amend the Banking Regulation Act to give more powers to Reserve Bank of India to deal with non-performing assets (NPAs) in the banking sector. The ordinance has been sent to ..
Month: Current Affairs - May, 2017
Cabinet approves MoU for establishment of BIMSTEC Grid Interconnection
The Union Cabinet has approved signing of Memorandum of Understanding (MoU) for Establishment of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Grid Interconnection”. The MoU will be signed among member states of BIMSTEC at the ..
Month: Current Affairs - April, 2017
Cabinet approves setting up of Indian Institute of Petroleum and Energy at Visakhapatnam
The Union Cabinet has approved setting up of Indian Institute of Petroleum and Energy (IIPE) at Visakhapatnam, Andhra Pradesh as Institute of National Importance through an Act of Parliament. The Institute will have the governance structure as well as legal ..