Month: March 2018

Public sector banks to consolidate 35 overseas operations

The union government asked Public Sector Banks (PSBs) to consolidate 35 overseas operations. Financial Services Secretary Rajiv Kumar said in a tweet that 69 overseas operations have also been identified for further examination. The Expressing government’s commitment to clean and responsible banking, Mr Kumar said, the overseas operations of the state-owned banks will be rationalized. The move comes in the wake of the recent Punjab National Bank scam in which Nirav Modi allegedly cheated the bank in connivance with PNB staff and officials of overseas branches of other state-owned...

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Union Cabinet Approves Anti-Trafficking Bill Draft

The apex anti-terror body National Investigation Agency (NIA) will be the nodal authority for probing cases of human trafficking after the government approved a proposal in this regard. The Union Cabinet okayed the draft Trafficking of Persons (Prevention, Protection, and Rehabilitation) Bill, which also proposes a punishment of life imprisonment for repeat offenders. The draft Bill divides various offenses into “trafficking” and “aggravated...

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Union Cabinet approves MoU between India and Jordan on Cooperation in Health Sector

The Union Cabinet approved the signing of a Memorandum of Understanding (MoU) between India and Jordan on cooperation in the field of Health & Medical Science. Working Group will be set up to oversee the implementation of this MoU and further elaborate the details of cooperation. MoU covers the following areas of cooperation Health Research. Tobacco Control. Chronic Disease Control. National Health Statistics. Health System...

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Union Cabinet approves Action Plan for Champion Sectors in Services

The Union Cabinet approved the proposal of Ministry of Commerce and Industry to give focused attention to 12 identified Champion Services Sectors Sectors (CSS) for promoting their development and realizing their potential. 12 identified CSS are Information Technology & Information Technology. The Information Technology & Information Technology Enabled Services (IT & ITeS), Medical Value Travel, Transport and Logistics Services, Tourism and Hospitals. The respective Ministries/Departments will finalize Action Plans and implementation timelines along with monitoring mechanism to monitor implementation of Scheme. It will enhance the competitiveness of country’s service sectors through implementation of focused and monitored Action...

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