GS-III

We didn’t have a choice on offset partner, says Hollande Former French President Francois Hollande has claimed that the Indian government suggested industrialist Anil Ambani’s company as the offset partner for the €7.87 bn deal to purchase 36 Rafale fighter jets. Mr. Hollande was the French President at the time …

Fighting global warming will necessarily require taxing carbon emissions, or setting a price on carbon pollution, the World Bank’s chief executive said on Wednesday at a G7 environment meeting in Canada. “We believe very strongly that we can send an economic signal by introducing a shadow price for carbon,” Kristalina …

The Man Booker Prize shortlist includes a book in verse and stories on dystopian themes The shortlist for this year’s Man Booker Prize, one of the world’s most prestigious literary awards, includes for the first time a novel told in verse. The book, The Long Take , by poet Robin …

E-com firms to cut 1% tax in supplier payments E-commerce firms will from October 1 have to deduct 1% tax collected at source (TCS) before making payments to their suppliers. The Finance Ministry on Thursday notified TCS at the rate of 0.50% of the net value of intra-State taxable supplies …

General managers get new postings As many as 14 general managers have been appointed as executive directors in different public sector banks, according to an official order issued on Thursday. Shanti Lal Jain and Vikramaditya Singh Khichi have been appointed as executive directors in the Bank of Baroda initially for …

Reduction in import levy in India will enable viable pricing: vice-president Jopp Mercedes Benz does not see itself producing electric vehicles (EVs) in India at the moment due to limited potential, combined with high investments, said a senior company official. To grow the market for such vehicles in the country, …

‘In the long run, the move will result in better efficiency’ The proposed merger of three public sector banks, Bank of Baroda, Vijaya Bank and Dena Bank, is expected to result in better operating efficiency in the long run but there could be an increase in slippages in the short-term, …

Plan includes a ‘friendship’ 135-km petroleum pipeline for exports to Bangladesh State-owned Bharat Petroleum Corporation Limited (BPCL) has sought the government’s nod for threefold expansion of its Numaligarh refinery in northeast from 3 million tonnes per annum (mtpa) to 9 mtpa at a cost of Rs. 22,000 crore. Excise concession …

Asks Centre to amend I-T Act under which individuals, firms avail tax benefit on monetary penalty The Securities and Exchange Board of India (SEBI) wants the government to amend the Income Tax Act to plug loopholes wherein individuals and companies managed to avail tax benefits on the money paid to …

UGC writes to V-Cs to mark the event The University Grants Commission (UGC) has written to the Vice-Chancellors of all universities to celebrate Surgical Strike Day on September 29 to mark the event along the Line of Control that day in 2016. The letter also desires that students pledge their …

Asks govt., UPSC to expedite move to post regular chief The Supreme Court on Thursday allowed Dilbag Singh, acting Director General of Police in Jammu and Kashmir, to continue in office for the next few weeks till the Union Public Service Commission takes a decision on the appointment of a …

“As oxygen masks popped, we yelled for cabin crew” The sudden drop in cabin pressure on board the Jet Airways flight 9W 697 caused a situation of panic on Thursday, as people suddenly started feeling pain in their head and nose, with some of them bleeding from the nose and …

The first-of-its-kind database has records of convicts from 2005 The first-of-its-kind national sex offenders’ registry launched on Thursday has names and details of some 4.4 lakh people convicted for various sexual offences across the country. The database is for those convicted for sexual offences 2005 onwards. It includes name, address, …

Jet Airways passengers suffer nosebleed, headache after cabin pressure drops Nearly 30 passengers on board a Jet Airways plane bound for Jaipur suffered nose-bleed and many others complained of headache during takeoff from Mumbai on Thursday after the pilots allegedly forgot to switch on a button that helps maintain cabin …

The Securities and Exchange Board of India has given the regulatory go-ahead to BSE and NSE to start their respective commodity derivatives segments. Both bourses plan to start the new segment from October 1. Interestingly, both the equity exchanges plan to start with non-agriculture commodities like metals and bullion, and …

May have to lay down laws: apex court The Supreme Court on Wednesday said it would have to lay down some laws on what stage the adjudicating authority, appellate authority and the apex court could interfere in insolvency resolution proceedings. A Bench of Justice Rohinton Fali Nariman and Justice Indu …

Debt accounts for 0.5%-0.7% of overall bank loans: Moody’s Rising liquidity issues in Infrastructure Leasing & Financial Services (IL&FS) are credit negative for Indian banks and debt market, Moody’s Investors Service said in a report. “As of 31 March 2018, debts incurred by IL&FS in the form of bank loans …

Many Centrally Sponsored Schemes are boutique in nature, with ‘dubious’ outcomes: N.K. Singh Several Centrally Sponsored Schemes (CSS) are just boutique in nature with ‘dubious’ outcomes, the 15th Finance Commission of the Union Government has noted while calling for urgent rationalisation of the CSSs. The pruning of such schemes would …

198 existing structures in 7 States will benefit from scheme The government has approved a 65% hike, and extended by two years, a project to improve the stability and working of dams in 11 States. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the …

Post-mortem report fails to establish that the deadly attack was by a big cat Many of the villagers living on the fringes of Odisha’s Satkosia Tiger Reserve (STR) were against having a tiger in their neighbourhood. But they had no say in the matter when two big cats were transferred …