4/10/2015 Banking Current Affairs 2015 Current Affairs ­ Current Affairs Today ­ Page 16

data:text/html;charset=utf­8,%3Cdiv%20class%3D%22inside_post%20column%20content_width%22%20style%3D%22margin%3A%200px%200px%203em%… 1/2

Banking Current Affairs 2015PM Narendra Modi’s ‘Make in India’ pitch to extend redcarpet for investors

September 26, 2014 No comments

In order to make India amanufacturing hub, PM NarendraModi launched the Make InIndiaCampaign at Vigyan Bhawanin New Delhi. The promotion isintended to appeal foreigncompanies to set up their

manufacturing units in India and to obtain larger foreign investment. P.M.Narendra Modi on his Independence Day speech had declared the Make inIndia policy.The aim of the crusade is to get manufacturing sector to grow over 10% on aviable basis over a long run and to transform the economy from a Service­driven growth model to Labour­intensive manufacturing­driven growth. Thus, itwill assist in creating jobs for over 10 million people, who join the workforceevery year.Via ‘Make In India’ campaign, the Union Government wishes to clear thedisheartening image of complex rules and bureaucratic red tape of Indianadministration. It will assist the global investors to promote their investmentchoices. This will assist in apprehending the objective of a liberalizedeconomy.As per the World Bank’s ease of doing business index, India ranks at verylow at 134 (out of 189) nations in 2014. The ‘Make in India’ campaign will actas a guiding for foreign investors on all aspects of regulatory and policyissues and support them in attaining regulatory sanctions. The Governmenthas already allowed 100% FDI under automatic route in construction,operation and maintenance in rail infrastructure projects.The ‘Make In India’ places stress on 25 sectors with emphasis on jobcreation and skill development. These include: automobiles, chemicals, IT,pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality,wellness, railways, auto components, design manufacturing, renewableenergy, mining, bio­technology, pharmaceuticals and electronics, etc.Union Government released individual brochures for these sectors along witha general brochure. The brochures will offer details of growth drivers,investment opportunities, sector specific FDI and other policies andassociated agencies.Features of the ‘Make In India’ campaignGovt to look into all regulatory processes to ease the load on investors.

A dedicated cell to answer enquiries from the business bodies via a freshlycreated web portal.A.Q.s on the portal to assist investors find instant answers to their generalqueriesBack­end support team to answer specific enquiries within 72 hours

4/10/2015 Banking Current Affairs 2015 Current Affairs ­ Current Affairs Today ­ Page 16

data:text/html;charset=utf­8,%3Cdiv%20class%3D%22inside_post%20column%20content_width%22%20style%3D%22margin%3A%200px%200px%203em%… 2/2

DIPP and FICCI have together set up an 8­member expert group to addressenquiries and apprehensions of investors. They will explain Indian policiesto the investors and propose reforms to the Central and statesgovernments.All Central government services are being integrated with an e­Biz singlewindow online portal.

States recommended initiating the self­certificationThe Union Ministry of Home Affairs has been asked to provide all securityclearances to investment proposals within 3 months.An advisory has been sent to all departments/ state governments tostreamline and straighten out the regulatory environment.

Tags: Economy • IBPS • Narendra Modi

Govt declares September 25 as ‘Antyodaya Diwas’September 25, 2014 No comments

Union Government announced 25 September as “Antyodya Diwas” to markthe 98th birth anniversary of Pandit Deendayal Upadhyay, a notedphilosopher, historian and political activist. Several activities including blooddonation camps, seminar, symposia were organised across the country.Pandit Deendayal UpadhyayPandit Deendayal Upadhyaya (1916­68) was a well­known political personalityand a thoughtful philosopher. He was a coordinator and a famous leaderofJan Sangh. He founded the Rashtra Dharma Prakashan publishing housein Lucknow and launched Rashtra Dharma, a monthly magazine, to advocatethe principles he held sacred. Later he launched the weekly Panchjanya andthe daily Swadesh. He wrote a drama Chandragupta Maurya in Hindi andlater wrote a biography of Shankaracharya.Tags: Days And Events • IBPS

ICICI Bank launches ‘Smart Star’ account, a minoroperated savings account for minors above 10 years ofage

September 25, 2014 1 Comment

ICICI Bank launched ‘Smart Star’ account, a savings account for minorsabove 10 years of age. The account will be opened in the name of the minorand will offer kid with a tailored cheque­book and a debit card with a picture ofhis/ her choice. The permits minors to operate their accounts individually.This will benefit to teach kids a practice of saving and responsibility ofspending sensibly.Minors will be able to start several banking transactions including issuingcheques, paying bills, recharge mobile phones, open fixed deposits andrecurring deposits amongst others. They will also have access to bankingnetworks such as ATM, mobile, Internet banking, etc.Tags: IBPS • ICICI Bank