www.talentsprint.com 1st February 2016 CBDT enters into two bilateral APAs with the U.K. The Central Board of Direct Taxes announced that it has entered into two Advance Pricing Agreements (APAs) with the U.K., marking the third bilateral APA India has signed so far. The two bilateral APAs were signed with two Indian group entities of a U.K. based Multi-National Company (MNC). The APAs have been entered into soon after the competent authorities of India and United Kingdom finalized the terms of the bilateral arrangement under the Mutual Agreement Procedure (MAP) process contained in the India-UK DTAA. With these agreements, the CBDT has so far signed 41 APAs, 38 of which are unilateral and three are bilateral. India, Afghanistan ink pact for visa-free travel by envoys India and Afghanistan inked a pact for visa-free travel by their diplomats following Afghan Chief Executive Abdullah Abdullah's meeting with Prime Minister Narendra Modi during which they discussed key bilateral and regional issues including security cooperation. It is learned that during the meeting Abdullah thanked Modi for consistent assistance from India in various spheres including defence and for meeting his country's developmental needs. India had given three multi-role Mi-35 helicopters to Afghanistan in December for combating terrorism in the war-torn country. TalentSprint©2016 www.talentsprint.com Nod for Defence Park at Ottappalam In a move that could have usher a new chapter in ensuring world class industrial infrastructure in Palakkad region, Union government‘s Department of Industrial Policy and Promotion (DIPP) has given its final approval to the proposal of Kerala Industrial Infrastructure Development Corporation (Kinfra) to set up India‘s first Defence Industrial Park at Ottappalam. The foundation stone laying ceremony would be held during the first week of February. Tenders would be invited in two weeks for choosing the construction agency. The Rs. 231 crore park will be established with the help of Central and State governments. Vice Admiral Sunil Lanba Takes Over Western Naval Command Vice Admiral Sunil Lanba took over as Flag Officer Commanding-in-Chief (FOC-in-C) of Mumbai headquartered Western Naval Command (WNC) at a ceremonial parade held at INS Shikra. He took the charge from Vice Admiral SPS Cheema who retired after completing nearly four decades of service to the nation and the Indian Navy. Prior to this appointment, Mr. Lanba was Commander-in-chief of the Southern Naval Command at Kochi and head of the premier operational Command of the Indian Navy. TalentSprint©2016 www.talentsprint.com British TV and Radio presenter Terry Wogan passes away Veteran British TV and radio presenter Sir Terry Wogan passed away in London after long battle with cancer. He was 77. In Britain, he was one of the most popular personalities on both radio and television for several decades and often described his profession as jobbing broadcaster. He was born as Michael Terence Wogan on 3 August 1938 in Limerick City, Ireland. He had acquired dual British and Irish citizenship in 2005. He had started his career on the Irish national broadcaster Raidio Teilifis Eireann in the 1960s. Later, he worked for the BBC (British Broadcasting Corporation) in the United Kingdom for most of his career. Prior to his retirement in 2009, his BBC Radio 2 weekday breakfast programme Wake Up to Wogan Before had 8 million regular listeners that made him the most listened-to radio broadcaster in Europe. ||<><><>|| 2nd February 2016 RBI rates unchanged in 6th bi-monthly monetary policy review The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy review for year 2016 has maintained status quo in key policy interest rate. The key policy interest rates were kept unchanged on the basis of an assessment of the current and evolving macroeconomic situation in the country. RBI has kept its stance on the credit policy accommodative. Key policy rates are TalentSprint©2016 www.talentsprint.com Repo rate under the liquidity adjustment facility (LAF): unchanged at 6.75 per cent. Reverse repo rate under the LAF: unchanged at 5.75 per cent. Marginal standing facility (MSF) rate and the Bank Rate has unchanged at 7.75 per cent. Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL). Japan to set up plant for US-2 amphibious aircraft in India Japan‘s ShinMaywa Industries is planning to set up manufacturing plant of US-2 amphibious aircraft in India under ‗Make in India‘ initiative to cater to international demands. The move comes as Indian Navy plans to procure 6 such aircrafts between 2017 and 2022 by signing a government to government deal i.e. initial purchase being off the shelf. The government to government defence deal for purchasing of US-2 amphibious aircraft will be having a 30 per cent offset clause. Under this clause, ShinMaywa will set up a manufacturing plant in India to cater to the global market since the demand for the aircraft is high. TalentSprint©2016 www.talentsprint.com Archana Ramasundram to become the first woman chief of a paramilitary force For the first time, the government appointed a woman IPS officer as the chief of a paramilitary force. Tamil Nadu cadre IPS officer Archana Ramasundram will take over as Director General of Sashastra Seema Bal (SSB). The 1980-batch officer is the current head of the National Crime Records Bureau (NCRB). She is understood to have sought time to take over her new job, as she is the main organiser of an ongoing biometrics conference in Bhopal. The SSB chief‘s post fell vacant on January 31, after then DG B D Sharma retired. Ramasundram has been appointed to the post till the date of her superannuation on September 30, 2017, according to an order issued by the Department of Personnel and Training (DoPT). K Durga Prasad appointed as DG of CRPF Union Government has appointed senior IPS officer K Durga Prasad has Director General (DG) of Central Reserve Police Force (CRPF). Decision in this regard was taken by Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi in New Delhi. He is IPS officer of 1981 batch from Andhra Pradesh cadre. Prior to this appointment he was serving as special director general of the CRPF. Earlier he had served as Director of the Special Protection Group (SPG) which is nodal agency responsible to provide security to the Prime Minister, former Prime Ministers and their family members. TalentSprint©2016 www.talentsprint.com Veteran Urdu writer Intizar Husain passes away Legendary Urdu fiction writer, novelist, columnist and poet Intizar Husain passed away in Lahore, Pakistan. He was 93. He was the first Pakistani and the first Urdu writer ever to be nominated for the prestigious literally award Man Booker International Prize for fiction. Born on December 7, 1923 at Dibai in Bulandshahr district of Uttar Pradesh in India. He had migrated to Lahore in 1947. He did his MA (Urdu) in 1946 from the Meerut College. He worked as journalist in various newspapers and had retired from ‗Daily Mashriq‘ in 1988. His famous books are Kankari, Gali Koochay, Shehr-i-afsos, Din Aur Dastan, Kachhuay, Khaimay Say Door, Morenama Khali, Pinjra and Sheharzad Kay Naam. Saroj Kumar Jha appointed as Senior Director in World Bank Saroj Kumar Jha has been appointed Senior Director for the Fragility, Conflict and Violence Group in the World Bank. It is a key position in the World Bank to provide strategic leadership to address the challenge of fragility, conflict and violence. He is an alumnus of Indian Institute of Technology (IIT) Kanpur. Prior to this appointment he was working as World Bank‘s Regional Director for Central Asia based in Almaty since February 2012. He also had worked as the World Bank‘s Global Manager for Disaster Risk Management Practice. He joined the World Bank as a Senior Infrastructure Specialist in the Sustainable Development Network in 2005. ||<><><>|| TalentSprint©2016 www.talentsprint.com 3rd February 2016 Maharashtra announced Babasaheb Ambedkar Special Collective Incentive Scheme Maharashtra Cabinet announced Bharatratna Dr. Babasaheb Ambedkar Special Collective Incentive Scheme for the economically backward Dalit entrepreneurs. The scheme was launched to celebrate the 125th birth anniversary of Dr BR Ambedkar. Under this scheme, special facilities would be given to Dalit entrepreneurs besides the present Collective Incentive Scheme 2013. Businessmen in Commodities and Service sector would be able to avail the benefits of this scheme. India, Brunei ink 3 agreements India and Brunei signed three Memoranda of Understanding, including on Health and Defence Cooperation under the MOU on Defence Cooperation The purpose of this MOU itsought to enhance Defence Cooperation between India and Brunei through exchange of visits, conduct of joint military exercises, seminars, discussions and cooperation between the defence industries. Under the MoU in Health Cooperation, both countries will pool technical, scientific, financial and human resources and to upgrade the health care, medical education and research through exchange of doctors and promote business development in regulations of pharmaceuticals, medical devices and cosmetics. TalentSprint©2016 www.talentsprint.com MGNREGA completes 10 years of implementation The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005 completes ten years of implementation. On this occasion, Union Ministry of Rural Development had organised MGNREGA SAMMELAN in New Delhi to highlight achievements MGNREGA. Union Finance Minister Arun Jaitley was Chief Guest in the Sammelan. MGNREGA is a flagship rural job guarantee scheme that was announced by the then UPA government headed by Prime Minister Manmohan Singh in February 2006. The scheme aims at providing 100 days wage employment to every household to ensure livelihood security in rural areas.