1.The government of India launched ‘PAiSA – Portal for Affordable Credit and Interest Subvention Access’ on 26 November 2018.The portal is a centralised electronic platform for processing interest subvention on bank loans to beneficiaries under ‘Deendayal Antyodaya Yojana’.The web platform has been designed and developed by ‘Allahabad Bank’ which is the Nodal bank.
2.The Geological Survey of India (GSI) has been made the sole custodian and curator of all meteorites within the Indian boundary.It has been declared as the nodal agency for collection, preservation, registration, and dissemination of all meteorite falls/finds within the country.The declaration was made by the Ministry of Mines.The GSI is headquartered in Kolkata.
3. The government of India and the Asian Development Bank (ADB) signed a $200 million loan agreement.The loan amount will be used for widening and upgrading State Highways (SHs) in Bihar under the ‘Bihar State Highways III Project’ (BSHP-III).The Project will also establish a State-level Road Research Institute.
4.The Reserve Bank of India (RBI) relaxed norms for External Commercial Borrowings (ECBs).It reduced the mandatory hedge coverage from 100% to 70% under ‘Track I’ of the ECB framework.Track I’ refers to medium-term foreign currency-denominated ECBs with a minimum average maturity of 3-5 years.This move will help reduce costs for companies that raise foreign funds.
5.President Ram Nath Kovind appointed Sunil Arora as the new Chief Election Commissioner (CEC) on 26 November 2018.He will take charge on 2 December 2018.He was a 1980-batch IAS officer of the Rajasthan cadre.Sunil Arora, who is an Election Commissioner (EC) currently, was appointed to the Election Commission in September 2017.
6.Odisha’s Chief Minister Naveen Patnaik launched a public bicycle sharing project and a mobile app on 26 November 2018.The bicycle sharing project and the mobile app is named ‘Mo Cycle’.The project will provide mobile app-based services to users to locate and use a bicycle.The ‘Mo Cycle’ system will help in reducing traffic congestion, enhance space efficiency, and improve air quality.
7.Nageshwara Rao Guntur has been appointed as the Chairperson of the Atomic Energy Regulatory Board (AERB) on 26 November 2018.
8.According to the data from the health ministry, Gujarat has emerged as the top performer in implementing the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).The state accounted for around 26% of the total number of hospital admissions cleared under the scheme so far.Tamil Nadu was ranked second and Chattisgarh was ranked third.AB-PMJAY was launched on 23 September 2018.
9.India and China have signed a protocol to amend the ‘Double Taxation Avoidance Agreement’ (DTAA).The DTAA has been amended for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income.It also incorporates changes required to implement treaty related minimum standards under ‘Base Erosion and Profit Shifting Project’.
10.Securities and Exchange Board of India (SEBI) came out with a framework to identify listed companies that need to meet 25% of their financing needs through debt securities.It would be applicable to all entities that have an outstanding long-term borrowing of Rs.100 crore or more and a credit rating of AA and above.The framework will come into effect from 1 April 2019.
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