•
Raghuram Rajan announced his
decision to not to continue as RBI Governor, when his term ends on September
4,2016.
•
Bandaru Dattatreya, Union Labour
minister has said that the ministry would consult Ministry of External affairs
and Commerce ministry for inserting provisions related to treatment of labours
in the trade agreements between countries after facing opposition from
Bharatiya Mazdoor Sangh (BMS), a RSS affiliated organization against the
India’s stand in the recently concluded ILO conference in Geneva. Earlier India
has expressed its dissent to include labour standards as part of the provisions
in trade agreements as it would affect India’s prospects for export and
economic growth.
•
Boeing and Tata Advanced systems laid
the foundation for setting up joint venture “TATA Boeing Aerospace Ltd” in Hyderabad
to co-produce Boeing AH-64 Apache Helicopter Fuselages.
•
Government has relaxed FDI norms to
permit 100% foreign investment in aviation sector, Greenfield pharma projects,
Cable networks, DTH and Mobile TV and food product e-commerce and 74% in
Brownfield pharma projects. Previously, FDI in Defence sector is permitted over
49% only if the investor brings in “State-of –the –art” technology. Now the
condition to bring in “State-of –the –art” technology has been done away with.
•
Ministry of Finance has announced that Public Provident Fund (PPF) account can be closed prematurely
after completing five years for reasons such as higher education or expenditure
towards medical treatment.
•
Y.C.Deveshwar to step
down as MD of ITC in 2017 and stay as Non-executive chairman. Under Deveshwar’s
tutelage ITC grew tenfold and forayed into FMCG business.
•
PSB-s to get Rs.10,000 to 12,000 crore
in the current fiscal year in addition to the Rs. 25,000 crore provisioned in the Budget to tackle the problem
of rising NPA-s.
•
GST Bill to be taken up this moonson
session- Nirmala Sitharaman,
•
Reliance communications and Aircel are
set to sign a merger deal to merge their wireless business and form the 4th
largest telecom company in the country.
•
Britain has voted to leave European
Union in the referendum conducted across the nation. The
terms of Britain exiting EU will be decided through negotiation that is to happen
over a 2 Year period. David Cameron will step down as Prime minister.
•
India’s bid to get NSG membership didn’t
succeed in the NSG Plenary session at Seoul, South Korea. But countries like US
have expressed hope that India might get membership around the end of the year.
•
India has become a member of Missile
Technology Control Regime (MTCR). MTCR is a partnership of 35 Countries to
prevent proliferation of missile and unmanned aerial vehicle technology. Interestingly,
China, which stymied India’s membership in NSG is not a member of MTCR.
•
RBI
deputy governor Urjit Patel, former deputy governors Rakesh Mohan and Subir
Gokarn, and State Bank of India chair Arundhati Bhattacharya in race for the
next RBI Governor.
•
Moonson
Session to start from July 18.
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