1.SEBI came out with a detailed framework for Risk Based Know Your Client (KYC) documentation of Foreign Portfolio Investors (FPIs).The market regulator made it clear that Non-Resident Indians (NRIs), Overseas Citizens of India (OCI) and resident Indians cannot be beneficial owners of FPIs.NRIs and OCIs can only obtain an FPI licence when they limit their roles to investment advisors.
2.The Indian government has launched a Pilot Scheme for procurement of aggregate power of 2500 MW on the competitive basis for three years under medium term from commissioned power plants without power purchase agreements.The main purpose of the scheme is to revive commissioned power plants which are unable to sell electricity in the absence of valid power purchase agreements.
3.The board of directors of Kotak Mahindra Bank has redesignated Uday Kotak as Managing Director and Chief Executive Officer with effect from 1 May, 2018.
4.Noted scholar and former Finance Minister in the Left Front government in West Bengal Ashok Mitra passed away on 1st May.Mr. Mitra was also an eminent economist and penned several newspaper columns on social and economic issues.
5.NITI Aayog will soon come out with a development agenda for ‘New India 2022’, which will spell out strategy for expediting economic growth.It will start working on a 15-year vision document after finalising the development agenda document for ‘New India 2022’.It had planned to come out with three documents: 3 year action agenda, 7 year medium-term strategy and 15 year vision document.
6.The 9th India Japan Energy Dialogue was held in New Delhi. Minister of State(IC) for Power and New & Renewable Energy, R.K Singh, and Minister of Economy, Trade and Industry (METI) Hiroshige Seko signed a Joint Statement at the conclusion of the meeting.
7.World Asthma Day is an annual event organized by the Global Initiative for Asthma (GINA) to improve asthma awareness and care around the world.The theme for the year 2018 is “Never too early, never too late. It’s always the right time to address airways disease”.
8.The International Labour Day, also known as International Worker’s Day or May Day is observed every year on May 1.The theme of International Labour Day 2018 is “Uniting Workers for Social and Economic Advancement”.
9.Hockey India has appointed Harendra Singh as coach of India's men's team, while Sjoerd Marijne will take over as chief coach of women's side.
10.Mr Sitanshu Ranjan Kar, a 1983 batch officer of Indian Information Service, took over as the 27th Principal Spokesperson of the Government of India and Director General of Press Information Bureau in New Delhi.
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