1. Union Cabinet allows 100 per cent FDI under automatic route for white label ATMs
i. The Union Cabinet has allowed 100 per cent foreign direct investment (FDI) under the automatic route for white label ATM operations (WLAO).
ii. Decision in this regard was taken in Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
iii. This decision will expedite and ease FDI inflows in WLAO further giving a fillip to the government’s ambitious effort to promote financial inclusion in the country, including the Pradhan Mantri Jan Dhan Yojna (PMJDY).
iv. Prior this approval, foreign investment in WLAO was allowed through the government approval route which required some processing time and projects were delayed.
2. Gandhi Peace Prize 2014 conferred on ISRO
i. President Pranab Mukherjee conferred the Gandhi Peace Prize for the year 2014 on Indian Space Research Organization (ISRO).
ii. ISRO Chairman A S Kiran Kumar on behalf of the organisation received the prize at a function held at Rashtrapati Bhavan in New Delhi.
iii. ISRO was chosen for the prestigious award in March 2015 for its contribution in development of space technology and satellite-based services, making space technology a catalyst of development of India and bringing societal transformation and provided the service to the common man and nation.
iv. Gandhi Peace Prize is awarded annually to individuals and institutions for their contributions towards social, economic and political transformation through non-violence and other Gandhian methods.
3. South Asian Sub-Regional Drug Focal Point meeting begins in New Delhi
i. Sub-Regional Drug Focal Point Meeting and Colombo Plan Drug Advisory Programme (CPDAP), South Asia under the Drug Demand Reduction (DDR) Expert Group Consultation has begun in New Delhi.
ii. The three-day meeting was inaugurated by Union Home Minister Rajnath Singh which has been organised by Narcotics Control Bureau (NCB).
iii. The main objective is to review the progress of the Drug Demand and Supply Reduction activities in the South Asia region.
iv. It is to facilitate exchange of views between delegates on technical aspects of the drug cooperation programme and it aims at achieving efficiency and effectiveness.
v. CPDAP will provide a great platform to coordinate among different countries fighting for the cause of drug menace. About 40 delegates from various participating countries are participating in this meeting.
4. NTPC to raise Rs. 700 cr via tax free bonds
i. State-run power utility NTPC will raise up to Rs. 700 crore through tax free secured non-convertible bonds.
ii. The government has approved the company’s raising Rs. 1,000 crore through tax free bonds, including Rs. 700 crore through public issue.
iii. According to statement, the issue will be for an amount of Rs. 400 crore (“Base issue size“) with an option to retain over subscription of up to Rs. 300 crore for issuance of additional bonds aggregating a total of up to Rs. 700 crore (“issue size“) fiscal 2016 (“issue“).
iv. A draft prospectus dated September 9, has been made public for seeking their comments on the issue in compliance with the SEBI regulations.
5. E-payment literacy meet
i. Lack of financial literacy among the public is the main reason for common man falling prey to fraudsters, according to Sushma Godbole, Chief Executive Officer of Dharwad Zilla Panchayat.
ii. She was speaking after inaugurating the ‘e-Payments Literacy Workshop’ organised by National Payments Corporation of India (NPCI), under the aegis of Nabard and Karnataka Vikas Grameen Bank (KVGB) at Dharwad on Tuesday, a press release said.
iii. Ashok Reddy, Chairman of KVGB, said the bank has initiated several measures to educate people on basic banking fundamentals.
iv. The event was hosted by NPCI representatives in 28 States at 120 centres supported by all 56 RRBs in the country, the release added.
6. Union Cabinet approves National Offshore Wind Energy Policy
i. Union Cabinet cleared National Offshore Wind Energy Policy to generate electricity from offshore windmills located in areas within Exclusive Economic Zone (EEZ) of the country.
ii. Offshore wind power projects and R&D activities will be carried in waters up to the seaward distance of 200 Nautical Miles (EEZ of the country) from the base line.
iii. Union Ministry of New & Renewable Energy (MNRE) will be nodal Ministry. National Institute of Wind Energy (NIWE) will be nodal agency for allocation of offshore Wind Energy blocks.
iv. National Institute of Wind Energy (NIWE) will be nodal agency for allocation of offshore Wind Energy blocks. NIWE has been authorized to carry out allocation of offshore wind energy blocks. It will also frame guidelines for coordination and allied functions with related ministries and agencies.
7. India, Indonesia sign pact to cooperate on criminal matters
i. India and Indonesia have signed a pact for repatriation of wanted prisoners and cooperate in all criminal matters, including gathering evidence.
ii. In this regard Union Ministry of Home Affairs has issued an official gazette notification for service or execution of summons or warrant in relation to criminal matters in both countries.
iii. India will execute summons to an accused person (or any person) requiring to produce documents and attend or a search-warrant issued by an Indonesian court.
iv. Indonesia will reciprocate with similar action to execute summons if there is any request from any Indian court.