Banking Affairs 14th February 2017 | Financial Awareness 14th February 2017

1. J&K govt launches e-Prison project

  • The Jammu and Kashmir government on 13th Feb 17 launched the e-Prison project to enumerate jail inmates in the State, where numbers of detainees keep swelling during the unrest.
  • “The information about jail inmates is currently being maintained manually.
  • To avoid delays in processing the information and manage all the jails efficiently, the automation of prison department has been started.”

2. Electronic technology start-ups

  • The government is targeting an investment of about Rs. 2200 crore in start-ups working on new technologies in the electronic sector under the Electronics Development Fund by 2019.
  • This investment aims at creating an eco-system to make India a global hub for electronics manufacturing. The total corpus is Rs 6800 crore.

3. Indradhanush 2.0

  • Government plans to come out with ‘Indradhanush 2.0’.
  • A comprehensive plan for a recapitalisation of public sector lenders, with a view to make sure they remain solvent and fully comply with the global capital adequacy norms, Basel-III.
  • ‘Indradhanush 2.0’ will be finalised after completion of the Asset Quality Review (AQR) by the Reserve Bank, which is likely to be completed by March-end.

4. The Supreme Court today indicated that it may come to Memorandum of Procedure by month end

  • The Supreme Court today indicated that it may come out with the Memorandum of Procedure, MoP, for an appointment of judges for higher judiciary by the month end.
  • This was stated by a bench comprising Chief Justice J S Khehar and Justice N V Ramana.
  • The issue of MoP has been a bone of contention between the apex court and the government as both have differences over key points.

5. Das Says MoUs signed During Momentum Jharkhand Meet

Jharkhand Chief Minister Raghubar Das on 13th Feb 17  advised State Government departments to sign only those MoU’s during the February 16-17 Momentum Jharkhand meet, which will be fruitful and the department concerned should complete work within a time frame.

Das suggested to make separate lists of such MoU’s being executed within one year from others which would take two or three years to complete.

6. Rs. 50,000 cr worth MoUs signed on 2nd day of Vibrant Gujarat

  • Over 50,000 crore worth MoUs for investments and credit were signed at the end of the 2nd day of the Vibrant Gujarat Global Summit with State Bank of India leading the Pack.
  • SBI Signed MoU with Gujarat Government for extending bank credit especially in priority sector.
  • Under the MoU country’s largest lender will give Rs. 30,000 crore worth loans over a two-year period, officials announced.

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