23 June 2016

23 June: United Nations Public Service Day

Every year 23 June is being observed as the United Nations Public Service Day by the United Nations (UN). 

Significance of the Day: 

The day seeks to mark the invaluable contributions of public servants and administrators to build a better world for all. This for the first time, the day is observed after the 2030 Agenda for Sustainable Development (i.e. Sustainable Development Goals) were adopted by all member states of United Nations. On this occasion, the UN will hold a Public Service Awards ceremony to reward the creative achievements and contributions of public service institutions worldwide.

Ken Miyauchi appointed as President and COO of SoftBank Group

Ken Miyauchi has been appointed as the President and Chief Operating Officer (COO) of the Japanese conglomerate SoftBank Group. He will succeed Nikesh Arora who had stepped down from his position after the Chairman and CEO of Group Masayoshi Son wanted to remain at the helm longer than first planned. Prior to this appointment, Ken Miyauchi was head of the SoftBank group’s Japanese telecommunications operations. He has been working with the SoftBank Group since October 1984. 

About SoftBank 

• SoftBank Group is a Japanese multinational telecommunications and Internet corporation established in 1981 in Tokyo. 
• It has operations in fixed-line telecommunications, broadband, Internet, e-commerce, technology services, media, finance and marketing, and other businesses. 
• As of 2015, the group is the 62nd largest company in the world based on a composite of sales, assets, profit and market value.
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Union Cabinet approves pact for avoidance of double taxation with Belgium

The Union Cabinet has given its approval to the signing of a Protocol amending the Agreement between India and Belgium for avoidance of double taxation. Decision in this regard was taken in the Union Cabinet meeting under the chairmanship of Prime Minister Narendra Modi.
 Key Facts 

• The amendment in the Protocol will broaden the scope of the existing framework of exchange of tax related information between the two countries. 
• It also revises the scope of existing treaty provisions on mutual assistance in collection of taxes and further help to curb tax evasion and tax avoidance. 
• The Protocol will also revise the existing treaty provisions on mutual assistance in collection of taxes.

Union Cabinet approves Mega Spectrum Auction

The Union Cabinet under Chairmanship of Prime Minister Narendra Modi has approved mega auction of all available spectrum (more than 2300 Megahertz) across the seven bands. This decision will pave way for the largest-ever spectrum auction in the country and could potentially fetch the exchequer about 5.5 lakh crore ruppees going by the reserve price.

 Key Facts 

• The airwaves in the seven spectrum bands to be auctioned are 700, 800, 900, 1800, 2100, 2300 and 2500 MHz. 
• The auction of such a large quantity of spectrum will give a fillip for Digital India programme.
•  It will also allow telecom operators to purchase spectrum at par with international holding values and end spectrum shortage. 
• This auction for the first time will sell 700 MHz band which is preferred for offering high-speed broadband services.

Union Cabinet extends deadline of UDAY scheme

The Union Cabinet has approved proposal of extending the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to March 31, 2017. With this decision, states shall take over 75% of ailing DISCOM (Power Distribution companies) debt as on 30th September, 2015 by 31st March, 2017 by issuing Bonds. It is considered as a significant step in realising the vision of proving 24X7 affordable and environment friendly Power for All. This intervention will also lower the interest burden of debt and allow states, which could not join UDAY earlier to put DISCOMs reforms on accelerated path.

 About Ujjwal Discom Assurance Yojana (UDAY) 

• The UDAY scheme aims at bringing ailing power discoms to a state of operational efficiency, with state governments taking over up to 75% of their respective debt and issuing sovereign bonds to pay back the lenders.
•  It is the most comprehensive power sector reform ever undertaken. It shall conceive permanently resolve all DISCOM problems in the past, present and future. 
• The scheme is for the operational and financial turnaround of DISCOMs, which are the weakest link in the power value chain. It provides a clear roadmap and opportunity to DISCOMs to become profitable till 2019.
•  Power is a concurrent subject and requires the active participation of the States. Though, the scheme is optional, several States/Union Territories have joined or agreed to join it.
•  Under this scheme the turnaround of DISCOMs will be made possible through (i) Improving operational efficiencies of DISCOMs, (ii) Reduction in the cost of power (iii) Enforcing financial discipline on DISCOMs through alignment with State finances. 
• So far, 19 states have given in principle approval to join the scheme, out of which 10 states have signed MoUs with the Union Government.

PayPal appoints AnupamPahuja as India Country Manager and MD

·        World’s leading payments platform PayPal announced the appointment of AnupamPahuja as the Managing Director (MD) and Country Manager for its India operations.

·        Pahuja will be responsible for all aspects of PayPal's business in India. He will also be responsible for further strengthening of the company's operations in the country.

·        Prior to joining PayPal, Pahuja worked as the India MD for SumTotal Systems.

Olympian Anju Bobby George resigned as president of Kerala Sports Council

·        Olympian Anju Bobby George resigned as President of the Kerala Sports Council.

·        The iconic long jumper, who in 2003 became the first Indian athlete ever to win a medal in a World Athletics Championships in Paris, resigned after being accused for corruption by the state's sports minister EP Jayarajan.

·        Bobby George was appointed president of the state's sports council in 2015, by the erstwhile OommenChandy government.

Freida to get International Icon Award at IIFA

·        Actress Freida Pinto is set to receive the 'International Icon Award' at the 17th edition of the IIFA awards ceremony, beginning in Madrid.

·        The actress has starred in films including 'SlumdogMillionnaire', 'Immortals' and 'Rise of the Planet of the Apes'.

·        Notably, this year's IIFA gala will mark Pinto's debut at the awards ceremony.