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Union Govt allows Online Authentication using Aadhaar for new mobile connections
The Union government has allowed internet Aadhar authentication for new mobile sim connections. In this regard the Department of Telecom has issued guidelines for Electronic Aadhaar, know your client (e-KYC). The e-KYC seeks to make the online process of application and authentication faster and simpler for subscribers. Customer through their Aadhaar number and biometrics will online authorise UIDAI to provide demographic details. The details will include name, address, date of birth and gender, along with the digitally signed photograph, to the mobile operator.
Railway Budget set to be merged with Union Budget from next fiscal
The 92-year-old practice of presenting a separate Rail Budget is set to come to an end from the next fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget. The move is considered to be a relief to the national transporter, which was suffering from an additional burden of about Rs 40,000 crore on account the Seventh Pay Commission and close to Rs 35,000 crore on subsidy burden. If the merger happens, the Railways will get rid of the annual dividend that it has to pay for gross budgetary support from the government. According to a report, the finance ministry has given a go-ahead signal to the proposal by the Railways ministry and has set up a five member committee in this regard.
India’s first Nuclear Suppliers’ Insurance Policy unveiled by INIP
The country’s first Nuclear Suppliers’ insurance policy was unveiled by India Nuclear Insurance Pool (INIP). The policy was unveiled by Atomic Energy Commission (AEC) chairman Sekhar Basu in Mumbai, Maharashtra. INIP is the 27th global nuclear insurance pool which was launched by state run General Insurance Corporation of India (GIC Re), in association with non-life insurance companies. New India Assurance Co (NIAC) and INIP will issue the policy and administer the claims on behalf of the pool. Earlier NIAC had issued a policy for the operators of nuclear power plants under INIP by underwriting premium to the tune of Rs 100 crore.
Union Cabinet approves liberalization of FDI norms for NBFCs
The Union Cabinet has approved liberalization of foreign investment norms for the non-banking finance companies (NBFCs) to improve the ease of doing business. Decision in this regard, Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi. Cabinet has approved Foreign investment in NBFCs can now come under the automatic route provided they are regulated by any of the financial sector regulators. Entities not regulated by any of the regulators (RBI, SEBI, PFRDA etc.)/ government agencies will need approval from the Foreign Investment Promotion Board (FIPB). A NBFC is a financial institution that provides banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license.
Rajya Sabha passes Maternity Benefits (Amendment) Bill, 2016
Following the Cabinet approving the amendment made to the Maternity Benefit Act, which aims to raise maternity leave for women from 12 to 26 weeks, the Rajya Sabha has passed the amendment. The Bill seeks to amend the Maternity Benefit Act, 1961. The law protects the employment of women during the time of her maternity and entitles her of a ‘maternity benefit’. The Bill aims at increasing women’s participation in the workforce which is “decreasing day-by-day.” The provisions of bill apply to every establishment employing ten or more persons and include mines and factories. No employer can remove any woman employee on the ground of pregnancy. It is a mandatory for every establishment having 50 or more employees to have a creche.
Parliament passes Central Agricultural University (Amendment) Bill, 2016
Parliament has passed the Central Agricultural University (Amendment) Bill, 2016 to help the north-eastern state achieve higher growth in animal husbandry sector. The Bill proposes to amend the Central Agricultural University Act, 1992 to include Nagaland under the jurisdiction of Imphal Central Agriculture University (CAU). The amendment will help Nagaland to reap the benefit of the Imphal Central Agriculture University which was established for the entire north eastern region.
Read more: Current Affairs August 2016 Study Material | FreeJobAlert.com http://currentaffairs.freejobalert.com/aug-2016-current-affairs-study-material/13609/#ixzz5T4ZXtyLk
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