Union Cabinet approves for MoU between SEBI and FSRA Abu Dhabi
The Union Cabinet has given its approval to Securities and Exchange Board of India (SEBI) to sign a MoU with Financial Services Regulatory Authority (FSRA), Abu Dhabi. The MoU is for mutual co-operation and technical assistance between the two financial regulators of both countries.
Key facts
The MoU seeks to promote further development of economic links and cooperation between the SEBI and FSRA. It will also help to create conditions for development of securities markets in the two countries. It would also facilitate towards strengthening the information sharing framework between the two regulators.
Background
SEBI signs MoUs with different country’s financial jurisdictions who are not a signatory to the multilateral MoU of International Organisation of Securities Commissions (IOSCO). IOSCO’s MoU encourages the exchange of information and assistance between signatory parties. SEBI is a signatory to global market regulators’ grouping IOSCO’s MoU. So far SEBI has signed bilateral agreements with a number of countries including Mauritius, Bangladesh etc.
According to WHO Delhi state is no longer most polluted in the world
on 12 May 2016 The World Health Organisation (WHO) in a survey declared that New Delhi is no longer the worst polluted city in the world in terms of air quality.
India is home to four of the five cities in the world with the worst air pollution.According to the report, in terms of PM2.5 measurement, New Delhi ranked as the 11th worst city in the survey. The national capital had an annual average PM2.5 measurement of 122.
Know About WHO –
• WHO, which is also known as The World Health Organization is a specialized agency of the United Nations that is concerned with international public health.
• WHO was established on 7 April 1948, headquartered in Geneva, Switzerland.
• The WHO is a member of the United Nations Development Group.
ICICI Bank bank launches country’s 1st contactless credit card for SMEs
This card has been christened as the ‘Jet Airways ICICI Bank Business Advantage Card’.
Do You Know –
• The business credit card is powered by ‘VISA payWave’ contactless technology.
• However, this technology enables cardholder to make payments by simply tapping card at contactless enabled terminals in more than 48 countries including India.
Railways to constitute Mobility Directorate, Non-Fare Revenue Directorate
The Union Railways Ministry has decided to constitute two Directorates viz. Mobility Directorate (MD) and Non-Fare Revenue Directorate (NFRD). They will be established for creation of cross functional directorates to focus on different areas in line with the Railway Minister’s budget speech.
Key facts
Mobility Directorate:
It will be constituted to focus on areas like speed enhancement. It will handle work such as identification and prioritization of train corridors for raising speed and identification of path for timetabled freight trains.
Non-Fare Revenue Directorate:
It will be constituted to focus on areas for enhancing revenues by 10% to 20% from Non-Tariff sources. Among other things, it will handle advertisement at stations, commercial exploitation of vacant land, and advertisements on coaches. These new Directorates would work directly under the supervision of Chairman of the Railway Board.
Union Cabinet gives nod India, UAE Renewable Energy Cooperation Agreement
- The Union Cabinet has apprised of a General Framework Agreement (GFA) on Renewable Energy Cooperation between India and United Arab Emirates (UAE).
- The GFA was signed in February 2016 in New Delhi during the official state visit of Crown Prince of UAE to India.
- Key facts
It will provide opportunity for exploring potential renewable energy projects for investments; cooperation in the International Solar Alliance (ISA) and explore avenues of cooperation in R&D in renewable energy.
It also will help in developing knowledge-sharing mechanisms to build upon the human capital, establishing a joint fund to facilitate investment etc.
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