Telecom department approves FDI limit in Bharti Airtel to 100%

The Telecom department of India has approved the Bharti Airtel Ltd to increase Foreign Direct Investment (FDI) in the company to 100%. The approval from the Telecom department will enable Singtel or Singapore Telecommunications Ltd to increase its stake in Bharti Airtel Ltd. Singapore Telecommunications Ltd currently owns 35% stake in Bharti Airtel. This approval will also enable Bharti Airtel company to raise more capital as per its requirement. It also opens the door for the Indian telecom operator to raise more funds from other foreign investors.

Bharti Telecom is the single-largest shareholder in Bharti Airtel with about a 41% stake while Singtel owns 48% in Bharti Telecom, which provides it a 35% stake in Bharti Airtel.

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SC sets up committee to Draft Legislation on Mediation

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The Supreme Court has set up a committee to firm up draft legislation to give legal sanctity to disputes settled through mediation. The panel, to be headed by mediator Niranjan Bhat. The other members of the panel, appointed by the Mediation and Project Conciliation Committee (MCPC) of the Supreme Court, included Justice K Kanan, former ASGs AS Chandok and PS Narsimha, senior advocates Sriram Panchu and JP Singh, and senior mediators Susheela S, Sadhna Ramchandran, Laila Ollapally, and Anil Xavier.

Important takeaways for all competitive exams:

Chief Justice of India: Sharad Arvind Bobde; Founded: 28th January 1950.

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Maharashtra Govt. makes Preamble reading mandatory in Maharashtra schools

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Reading of the Preamble of the Constitution has been made mandatory for the Maharashtra schools by the government of Maharashtra. The Maharashtra government has mandated the reading of Preamble of the Constitution after prayer in all primary and secondary schools in Maharashtra. The above decision will be implemented from 26 January 2020 through a programme “Sovereignty of Constitution, the public interest of all”. According to the programme, in every school of Maharashtra, the Preamble of the Constitution will be read by all in a group before the beginning of the classes.

Impact of the decision:

The decision has been taken to make everyone aware and understand the basic principles and the importance of the inclusiveness, justice, equality, liberty and brotherhood mentioned in the Preamble of the Constitution.

Important takeaways for all competitive exams:

Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

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RBI ranked 6th in buying gold abroad in World Gold Council report

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According to World Gold Council(WGC) report title “World Gold Outlook 2020”, Reserve Bank of India (RBI) has been ranked 6th in the largest buyer of sovereign gold abroad. RBI purchased 25.2 tonnes in first 10 months of 2019 to hedge government’s sovereign gold bond issue. RBI (Reserve Bank of India) currently holds 625.2 tonnes of gold, forming 6.6% of its forex reserves.

The central banks of China, Russia, Kazakhstan, Turkey, Poland bought more than India in 2019. In 2019, Uzbekistan and Venezuela sold 16.6 tonnes and 30.3 tonnes of gold. The performance of gold in the market in 2019 was best Since 2010. It rises by 18.4% in United States dollar (USD)terms in 2019.

Key points of World Gold Council(WGC) report:

i. The data about the gold holdings of various central banks were collected after those central banks shared their data with the International Monetary Fund (IMF).

ii. The central banks added 27.9 tonnes of gold on a net basis which when considering year-to-date basis brings net purchase to 570.2 tonnes, 11% higher than in 2018 (515.2tonnes).

iii. The report highlights the need for tax cuts to increase economic growth. This was due to the fact that higher taxes exacerbated the impact of record-high local consumption on the gold price.

iv. The Exchange Traded Funds (ETF) of institutional investors were the second-largest buyers of gold in 2019. The report predicts that they will continue to buy more gold in 2020 as well.

Important takeaways for all competitive exams:

World Gold Council founded: 1987.
Headquarters of World Gold Council: London, United Kingdom(UK).
Chief Executive Officer(CEO) of the World Gold Council: David Tait.

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“National Startup Advisory Council” created by Government of India

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The Government of India has created “National Startup Advisory Council“. The council is being set up to advise the central government to create a strong ecosystem to nurture innovation and start-ups in India.

Chairman and the composition of the National Startup Advisory Council?

The Commerce Minister will be the chairman of the National Startup Advisory Council. The council will also constitute the non-official members to be nominated by the Government of India. The non-official members will include the founders of successful start-ups, veterans who have grown and expanded their companies in India and the individuals who are capable of representing interests of investors into start-ups. The tenure of the non-official members will be for a period of two years.

The nominees of the related ministries, departments and organisations, not below the rank of joint secretary will be ex-officio members of the National Startup Advisory Council.

Objectives of setting up the National Startup Advisory Council:

The Council aims to boost the culture of innovation among the students.
It will recommend measures to facilitate public organisations to embrace innovation, promote creation, protection and commercialization of intellectual property rights, making it easier to begin, operate, grow and exit businesses by narrowing the regulatory compliances and costs.
It will also give its inputs in enhancing the ease of access to capital for start-ups, mobilise global capital for investments, incentivise domestic capital for investments, and keep control of the start-ups with original promoters.

Important takeaways for all competitive exams:

Union Minister of Commerce and Industry: Piyush Goyal.

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Paralympian Deepa Malik and wrestler Yogeshwar Dutt inducted in AlCS

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Paralympian Deepa Malik and wrestler Yogeshwar Dutt are among the new inductees in the government’s All India Council of Sports (AICS). It is an advisory body to the Ministry of Youth Affairs and Sports which was formed in 2015 by the Sports Minister Sarbananda Sonowal.

Some other renowned new entrants in the Council are former shooter Anjali Bhagwat, footballer Renedy Singh, and mountaineer Bachendri Pal. Senior India off-spinner Harbhajan Singh has also been inducted in the council. The Council is an advisory body for implementation of policies, matters relating to the promotion of inclusiveness in sports with special focus on women, differently-abled, tribals etc.

Important takeaways for all competitive exams:

President of All India Council of Sports: V K Malhotra.

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India start thermal screening of passengers arriving from China and Hong Kong

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7 airports across India start thermal screening of passengers arriving from China and Hong Kong. These airports are Delhi, Mumbai and Kolkata, Chennai, Bengaluru, Hyderabad and Cochin. Ministry of Civil Aviation has directed for all logistics support and arrangements to be made immediately with regard to screening of passengers arriving in India from China including Hong Kong.

All passengers and crew who are healthy should be allowed to continue their onward journey. If the ill passenger or crew member is confirmed as a probable case of Wuhan Corona Virus, public health authorities should be notified about the contacts using the Passenger Locator Form.

Important takeaways for all competitive exams:

Minister of State (Independent Charge) of the Ministry of Civil Aviation: Hardeep Singh Puri.

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Mukhyamantri Krishak Durghatna Kalyan Yojana launched by UP Govt

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Uttar Pradesh Government has launched Mukhyamantri Krishak Durghatna Kalyan Yojana. This scheme will provide financial assistance to the family of farmers who die or become handicapped while working in fields. UP government has also decided to implement Mukhyamantri Paryatan Samvardhan Yojana to boost tourism in the state.

The scheme will also include the Bataidars, who work in the field of other persons and share the crop after it is harvested. The scheme will cover farmers and their family members in the age group of 18-70 years. Mukhyamantri Paryatan Samvardhan Yojana one tourist point will be developed with a fund of 50 lakh rupees in each and every assembly segment of the state.

Important takeaways for all competitive exams:

UP Present CM: Yogi Adityanath, Governor: Anandiben Patel.

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32nd PRAGATI platform meeting chaired by PM Modi today

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Prime Minister Narendra Modi will chair the 32nd interaction through PRAGATI platform in New Delhi. PRAGATI is the ICT-based, multi-modal platform for Pro-Active Governance and Timely Implementation. This platform was launched by Prime Minister Narendra Modi on 25th March 2015.

It is an integrating and interactive platform aimed at addressing the common man’s grievances. PRAGATI also helps in simultaneously monitoring and reviewing important programmes and projects of the Centre as well as projects flagged by various State governments.

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Meghalaya celebrates 48th statehood day

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Meghalaya celebrates their 48th anniversary of statehood day on 21 January. The Meghalaya Day celebration will continue till the Republic Day celebration. In 1971, the Parliament passed the North-Eastern Areas (Reorganization) Act, 1971, which conferred full statehood on the Autonomous State of Meghalaya.

Meghalaya attained statehood on 21 January 1972, with a Legislative Assembly of its own. Thus Meghalaya was formed by carving out the two districts of the state of Assam: the United Khasi Hills and Jaintia Hills, and the Garo Hills.

Important takeaways for all competitive exams:

Meghalaya Capital: Shillong; Chief Minister of Meghalaya: Conrad Sangma.
Governor of Meghalaya: Ravindra Narayana Ravi.

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