Modi government's 'Atmanirbhar' push: Import ban on 351 military elements and sub-systems

Friday December 31, 2021

In a push for indigenisation, the government has notified a ban on import of 351 sub-systems and components

Modi government's 'Atmanirbhar' push: Import ban on 351 military elements and sub-systems

In a push for indigenisation, the government has notified a ban on import of 351 sub-systems and components for the armed forces under a staggered timeline, commencing from December next year.

In the ongoing pursuit of self reliance in defence equipment manufacturing, the listed items will be indigenized in the next three years.

The items banned from import include indigenous rocket launcher, diffuser, detector for thermal imaging camera, laser radiator Shakti electronic warfare system, double base propellant, laser warning sensor among others. The list also includes 2,500 items that have already been indigenised.

There were two lists issued by the ministry prior to this which mentioned 209 defence items to be procured from domestic sources. While the first list comprising 101 items was released in August last year, the second was released in May. It contained complex systems, sensors, simulators, weapons and ammunition like next generation corvettes, air borne early warning and control systems, tank engines, medium-power radar for mountains, MRSAM weapon systems among others.

Informing of India’s defence and aerospace manufacturing market, Defence Minister Rajnath Singh had recently said it is worth Rs 85,000 crore of which present contribution of private sector is approximately Rs 18,000 crore. In 2022, the country’s defence and aerospace manufacturing market will increase to Rs 1 lakh crore and this could further rise to Rs 5 lakh crore by 2047.

Final version of the Defence Production and Export Promotion Policy (DPEPP) 2020 is to be released soon.

Pakistan sets up first-ever body of Hindu leaders to take care of minority community's temples

Friday December 31, 2021

Pakistan has announced that it has set up the first-ever body of Hindu leaders to take care

Pakistan sets up first-ever body of Hindu leaders to take care of minority community's temples

Pakistan has announced that it has set up the first-ever body of Hindu leaders to take care of the minority community's temples in the Muslim-majority country.

The Ministry of Religious Affairs constituted the Pakistan Hindu Mandir Management Committee on the pattern of the already working Pakistan Sikh Gurdwara Management Committee.

According to an official statement, the inaugural meeting of the Pakistan Hindu Temple Management Committee was chaired by Minister for Religious Affairs Pir Noor-ul-Haq Qadri.

Evacuee Trust Property Board (ETPB) Chairman Asif Hashmi briefed the meeting on the matters.

The ETPB is a statutory board that manages religious properties and shrines of Hindus and Sikhs who had migrated to India following the partition.

The committee comprising Dewan Chand Chawla, Haroon Sarab Dayal, Mohandas, Naranjan Kumar, Megha Arora, Amit Shadani, Ashok Kumar, Versi Mill Dewani and Amar Nath Randhawa will be headed by Krishna Sharma.

According to official estimates, 75 lakh Hindus live in the country. The majority of Pakistan's Hindu population is settled in Sindh province where they share culture, traditions and language with Muslim residents. They often complain of harassment by extremists.

Andhra CM felicitates Kidambi Srikanth, announces 5 acres of land to set up badminton academy

Friday December 31, 2021

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has felicitated badminton player Kidambi Srikanth for

Andhra CM felicitates Kidambi Srikanth, announces 5 acres of land to set up badminton academy

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has felicitated badminton player Kidambi Srikanth for becoming the first Indian male shuttler to win a silver medal at the World Championships.

He also announced a cash award of Rs 7 lakh and 5 acres of land at Tirupati for setting up an academy.

He has won a silver medal in BWF World Championships 2021 held in Spain from December 12-19. He has been working as Deputy Collector in the government of Andhra Pradesh.

NRIs, OCIs do not need its prior nod to buy immovable property in India except in select cases: RBI

Friday December 31, 2021

Reserve Bank has said that NRIs and OCIs do not require its prior approval for acquisition

NRIs, OCIs do not need its prior nod to buy immovable property in India except in select cases: RBI

Reserve Bank has said that NRIs and OCIs do not require its prior approval for acquisition and transfer of immovable property in India, other than agricultural land, farm house and plantation property.

The clarification has been issued by Reserve Bank of India (RBI) following queries received at its various offices with regard to acquisition of immovable properties by Overseas Citizens of India (OCIs) in the wake of a Supreme Court judgment relating to Foreign Exchange Regulation Act (FERA).

At present, the central bank said, "NRIs/OCIs are governed by provisions of FEMA 1999 and do not require prior approval of RBI for acquisition and transfer of immovable property in India, other than agricultural land/ farm house/ plantation property..."

ICC Men's Test Player Rankings: Ashwin holds on to 2nd spot in both bowlers' and all-rounders'

Friday December 31, 2021

Seasoned India off-spinner Ravichandran Ashwin on Dec 29 retained his second position in both the ICC Men's

ICC Men's Test Player Rankings: Ashwin holds on to 2nd spot in both bowlers' and all-rounders'

Seasoned India off-spinner Ravichandran Ashwin on Dec 29 retained his second position in both the ICC Men's Test Player Rankings for bowlers and all-rounders.

Ravindra Jadeja managed to hold to his third position in the Test all-rounders list.

Rohit Sharma and skipper Virat Kohli also retained their positions in the Test batters' chart, at fifth and seventh respectively.

The Test batting chart is being led by Australia's Marnus Labuschagne (915 points), followed by England captain Joe Root (900) while New Zealand skipper Kane Williamson (879) has dislodged Steve Smith (877) from the third position.

Intermediaries can maintain current accounts in appropriate number of banks: IRDAI

Friday December 31, 2021

Regulator Irdai has said insurance intermediaries, including entities sponsored by them, can

Intermediaries can maintain current accounts in appropriate number of banks: IRDAI

Regulator Irdai has said insurance intermediaries, including entities sponsored by them, can maintain current accounts in appropriate number of banks for the purpose of meeting regulatory requirements and reinsurance business.

In August 2020, the Reserve Bank of India (RBI) had instructed banks not to open current accounts for customers who have availed credit facilities in the form of cash credit or overdraft from the banking system.

Later, on a review, the RBI permitted banks to open specific accounts that are stipulated under various statutes and instructions of other regulators/ regulatory departments, without any restrictions placed in terms of its August 2020 circular.

In a circular, the Insurance Regulatory and Development Authority of India (Irdai) said it has been observed that the insurance intermediaries maintain multiple current accounts with banks at different operational levels (branch offices, and corporate offices, among others), for regulatory and other purposes.

The regulator had received representations from the intermediaries in regards to maintaining current accounts with banks.

The ciruclar has been issued to avoid hardships, if any, faced by the insurance intermediaries.

Irdai, however, asked the insurance intermediaries to review annually the need for having multiple current accounts and rationalisation.

E-commerce hiring up 28 per cent in 2021; 2022 likely to be even more promising: TeamLease

Friday December 31, 2021

Employment opportunities in the e-commerce and allied industries witnessed a 28 per cent surge in

E-commerce hiring up 28 per cent in 2021; 2022 likely to be even more promising: TeamLease

Employment opportunities in the e-commerce and allied industries witnessed a 28 per cent surge in 2021, and recruitment activities in this segment will gain further momentum driven by economic recovery and aggressive vaccination drive, according to TeamLease Services.

The e-commerce sector grew by 8 per cent in 2020 and 30 per cent in 2021.

It is now poised to reach USD 111 billion by 2024 and USD 200 billion by 2026.

Looking at the employment ecosystem, there was a 28 per cent surge in employment opportunities in e-commerce and allied industries (e-commerce, social commerce, online grocery/ essentials) in 2021, according to TeamLease Services.

The year 2022 is going to be an even more promising year for e-commerce and tech startups, which are poised to reach a CAGR of 27 per cent, reaching USD 111 billion by 2024, TeamLease Services said.

While 2022 is going to be a promising year, some reforms and financial aid are required to help the sectors grow and flourish, it added.

Novak Djokovic withdraws from ATP Cup in Australia

Friday December 31, 2021

Novak Djokovic has withdrawn from the

Novak Djokovic withdraws from ATP Cup in Australia

Novak Djokovic has withdrawn from the ATP Cup in Australia ahead of the first Grand Slam tournament of the season .

No reason was given but the top-ranked Serb has declined to comment on his vaccination status in recent months and Australia’s strict regulations require all players, officials and fans to be fully vaccinated against COVID-19.

ATP Cup organizers disclosed Djokovic's withdrawal in a roster update that included France replacing Austria in the 16-country event following the withdrawals of Dominic Thiem and Dennis Novak. Dusan Lajovic will replace Djokovic for Serbia.

Fifth-ranked Andrey Rublev of Russia also pulled out, as did teammates Aslan Karatsev and Evgeny Donskoy.

The ATP Cup begins on Jan 1 in Sydney.

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Modi government's 'Atmanirbhar' push: Import ban on 351 military elements and sub-systems

Modi government's 'Atmanirbhar' push: Import ban on 351 military elements and sub-systems

Pakistan sets up first-ever body of Hindu leaders to take care of minority community's temples

Pakistan sets up first-ever body of Hindu leaders to take care of minority community's temples

Andhra CM felicitates Kidambi Srikanth, announces 5 acres of land to set up badminton academy

Andhra CM felicitates Kidambi Srikanth, announces 5 acres of land to set up badminton academy

NRIs, OCIs do not need its prior nod to buy immovable property in India except in select cases: RBI

NRIs, OCIs do not need its prior nod to buy immovable property in India except in select cases: RBI

ICC Men's Test Player Rankings: Ashwin holds on to 2nd spot in both bowlers' and all-rounders'

ICC Men's Test Player Rankings: Ashwin holds on to 2nd spot in both bowlers' and all-rounders'

Intermediaries can maintain current accounts in appropriate number of banks: IRDAI

Intermediaries can maintain current accounts in appropriate number of banks: IRDAI

E-commerce hiring up 28 per cent in 2021; 2022 likely to be even more promising: TeamLease

E-commerce hiring up 28 per cent in 2021; 2022 likely to be even more promising: TeamLease

Novak Djokovic withdraws from ATP Cup in Australia

Novak Djokovic withdraws from ATP Cup in Australia

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