1. Banks in Bihar to get ranks for giving loans
Bihar Deputy Chief Minister Sushil Kumar Modi, who also holds charge of the Finance and Commercial Taxes department, said “The [State] government will neither deposit its money nor carry out any transaction with banks that have been hesitant in giving loans [to beneficiaries]. It would formulate parameters on which banks would be ranked and be given grading
2. Hyderabad traffic management system wins award
H-TRIMS, the traffic management initiative of Hyderabad, has been chosen for the Best Commendable Initiative award by the Ministry of Housing and Urban Affairs.
H-TRIMS was introduced in 2012 to provide a round-the-clock remotely controlled signalling service for 221 junctions. H-TRIMS also enables automatic adjustment of signal timings based on traffic flows, pedestrian controlled signals and SMS-based alerts to the citizens.
3. Unlocking US-India trade potential
The two-day ‘Unlocking US-India Trade Potential’ trade conference will be held in Bengaluru on November 7 and 8.
According to a press release, while bilateral trade between the US and India is five times what it was a decade ago, tremendous potential for growth remains.
The conference will bring together representatives from American, Indian, and international businesses with trade experts, enabling conversation and collaboration among key stakeholders, thought leaders, and policymakers.
4. Still wary of ‘Trump Effect’
Confronted with a cascade of grim reports on the gathering pace of global warming, climate negotiators meet in Bonn wondering to what extent US President Donald Trump will make their jobs more difficult.
Five months after the world’s most famous climate sceptic said he would yank the US out of the 196-nation Paris Agreement, the diplomats and leaders tasked with implementing it remained both defiant and concerned.
5. 26 dead in Texas church shooting
A man wearing all black and a ballistic vest opened fire outside a small Baptist church in a tiny town in Texas, killing at least 26 people and injuring 20 others in the country’s most recent mass horror.
Governor of Texas, Greg Abbott, confirmed the toll, which has steadily increased throughout the day after the shooting at the First Baptist Church of Sutherland Springs.
6. Digital transactions shoot up post demonetisation
Digital payment companies have seen a substantial jump in their business as a result of the government’s measures towards promoting cashless transactions post demonetisation last year.
These firms are likely to further consolidate their business with more incentives for digital transactions.
7. Bank recap plan shouldn’t dent economy
The Finance Ministry may have to do some tough financial engineering to ensure that the latest ₹2.11-lakh crore recapitalisation plan for public sector banks does not further strain the country’s economy at a time when there are concerns over growth slowdown.
8. Easier credit to food processing industry can help farmers, says Goyal
Minister for Railways and Coal Piyush Goyal said “Easier bank credit to the food processing industry could in turn lead to better livelihood to farmers and doubling of their income”
Addressing a session on ‘Innovative Financing’ at World Food India, the Minister said the categorisation of the food processing sector for bank credit should be reviewed as it could in turn help double farmers’ income.
9. GSTN introduces refund provision for exporters
The GST Network has introduced Table 6A in Form GSTR1 that would allow exporters to claim refunds for Integrated GST.
The GSTN said “An exporter can claim refund of IGST tax paid at the time of export by filling the details of shipping bill and tax paid GST invoice in his Form GSTR1 in the relevant month.”
10. More than two lakh companies de-registered so far: MCA
The Centre has till date de-registered as many as 2.24 lakh companies for remaining inactive and not filing financial statements for two years or more.
The Corporate Affairs Ministry (MCA) said on Sunday, Separately, around 3.09 lakh directors on the board of companies that failed to file financial statements and/ or annual returns for a continuous period of three financial years during 2013-14 to 2015-16 have been disqualified.