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Current Affairs
| CCEA approves listing of five general insurance PSUs at the stock exchanges |
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| The Cabinet Committee on Economic Affairs (CCEA) has given its in principle approval for listing the five Public Sector General Insurance Companies (2016-17) owned General Insurance Companies in the stock exchanges. They are New India Assurance Company Ltd, United India Insurance Company Ltd, Oriental Insurance Company Ltd, National Insurance Company Ltd and General Insurance Corporation of India. The shareholding of these PSGICs will be divested from 100% to 75% in one or more tranches over a period of time as per Securities and Exchange Board of India (SEBI) and Development Authority of India (IRDAI) rules and regulations.
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| Bengaluru ranked worlds most dynamic city: JLL Index |
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| According to recently released Jones Lang LaSalles City Momentum Index (CMI), Bengaluru (capital of Karnatak) has emerged as the most dynamic city in the world. The index tracks the speed of change of a citys economy and commercial real estate market. It covers 134 major established and emerging business hubs and ranks them on parameters like technology, connectivity, population, education and real estate investments.
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| Union Cabinet approves to augment CGTMSE for supporting MSEs |
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| The Union Cabinet has approved package for augmentation of the Corpus of Credit Guarantee Trust Fund for Micro and Small Enterprises (CGTMSE) for supporting Micro and Small Enterprises (MSEs). With this, the corpus of the Trust has been increased from Rs. 2,500 crore to Rs. 7,500 crore and it will be fully funded by the Union Government.
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| Government launches ShaGun portal to monitor Sarva Shiksha Abhiyan |
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| The Union Government launched a dedicated web portal ShaGun (http://ssashagun.nic.in) for monitoring the progress of Sarva Shiksha Abhiyan (SSA). The portal was developed by World Bank in collaboration with Union Ministry of Human Resource Development. Its name has been derived from the words Shala (means schools) and Gun (i.e. Gunvatta meaning Quality).
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| AAI receives 45 initial bids under Regional Connectivity Scheme |
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| The Airports Authority of India (AAI) has received 45 initial bids from 11 parties to fly routes under the Regional Connectivity Scheme (RCS) launched by the Union Ministry of Civil Aviation. The initial bid proposals covers more than 200 routes and as many as 65 airports, 52 of them not served by any airline and 13 under-served airports. Now, Government has invited counter-bids against these initial proposals. After that, these routes will be awarded to bidders who quote the lowest Viability Gap Funding (VGF) requirement against the routes under the RCS.
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| Ken-Betwa River linking project receives environment, forest & tribal clearances |
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| The ambitious Ken-Betwa river linking project has received formal environment, forest and tribal clearances. The project aims at addressing water needs of dry swathes in Madhya Pradesh and Uttar Pradesh.
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| NITI Aayog calls for review RTE Act |
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The National Institution for Transforming India (NITI) Aayog has called for a review of the provisions of the Right To Education (RTE) Act that stipulate children who do not perform well cannot be held back up to 8th Class.
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| Union Government forms committee to look into Haj subsidy issue |
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| The Union Ministry of Minority Affairs has decided to set up a six-member committee to look into the Hajj subsidy issue. The decision has been taken in light of a 2012 Supreme Court order on gradually reducing and abolishing subsidy given to pilgrims by 2022.
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| SC refuses to pass judgment on Jallikattu before Pongal |
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| The Supreme Court has rejected a plea urging it to pass judgement on Jallikattu before the harvest festival of Pongal. It had also dismissed the review petition against its 2014 verdict. Earlier, the apex court had questioned the Union Government for its January 2016 notification allowing use of bulls in events like Jallikattu, saying that its 2014 verdict banning the use of the animals cannot be negated.
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| Industrial production grows 5.7% in November 2016 |
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| Indias factory output, measured by the Index of Industrial Production (IIP) has registered 5.7% growth in November 2016 as against 1.9% in October 2016. It is the fastest growth recorded in more than four years and is largely on account of a low base effect. It also does not display the negative effects of demonetisation as production cycles in manufacturing take longer to adjust to any demand change.
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