Govt sets up high-level panel to check money laundering activities

News:Government has set up a 19-member Inter-Ministerial Coordination Committee for better cooperation among government departments to curb money laundering. Facts: About the committee: The committee will be chaired by the revenue secretary. It will have four other government secretaries of the departments of financial services, economic affairs, corporate affairs and external affairs who will be… Continue reading Govt sets up high-level panel to check money laundering activities

Cryptocurrency panel for ban on private digital currencies, jail time of up to 10 years

Government had constituted a panel to examine all issues related to cryptocurrencies.The panel has drafted a law,‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’. The panel has said that anybody who mine, hold, transact or deal with cryptocurrencies in any form whether directly or indirectly through an exchange or trading should attract… Continue reading Cryptocurrency panel for ban on private digital currencies, jail time of up to 10 years

New panel to discuss cultural safeguards for Assam on July 24

The Home ministry has constituted a high-level panel to suggest ways to implement Clause 6 of the 1985 Assam Accord.The panel is headed by former Gauhati high court judge Justice Biplab Kumar Sarma. The ministry had to reconstitute the panel after four of the nine members named on the earlier panel had refused to be… Continue reading New panel to discuss cultural safeguards for Assam on July 24

Panel of CMs to suggest sweeping agriculture reforms

The Central government has set up a high powered committee of seven chief ministers led by Maharashtra’s CM as its convenor. The panel will suggest measures to transform Indian agriculture and raise farmers’ income. The Terms of reference(ToR) of the panel include suggestions on modalities for adoption and time-bound implementation of two key model Acts… Continue reading Panel of CMs to suggest sweeping agriculture reforms

Government revamps WPI revision team

The government has reconstituted the working group tasked with revising the current wholesale price index (WPI). The terms of reference(ToR) of the working group are (a)select the most appropriate Base Year for the preparation of a new official series of Index Numbers of WPI and Producer Price Index (PPI) in India (b)review commodity basket of… Continue reading Government revamps WPI revision team

Panel formed for better coordination among petrol, environment ministries

The Union government has set up a panel for better coordination among the Ministry of Petroleum and Natural Gas(MoPNG),the Ministry of Environment and Forest and Climate Change(MoEFCC) and the state governments. The panel will assist in speeding up hydrocarbon exploration-related clearances.The panel has Cabinet Secretary as chairman and secretaries of home,petroleum and environment will be… Continue reading Panel formed for better coordination among petrol, environment ministries

Panel will study the ‘1 nation, 1 poll’ issue

Prime Minister has said that a panel will be formed to examine the issue of ‘One Country,One Election’.The panel will come up with the suggestions in a time-bound manner. One Country,One Election is the method of holding single elections for both Lok Sabha and States instead of separate and continuous elections. Simultaneous elections are not… Continue reading Panel will study the ‘1 nation, 1 poll’ issue

Reserve Bank sets up panel to examine ATM charges, fees

The Reserve Bank of India has constituted a high-level committee under IBA Chief V G Kannan to examine ATM charges and fees by banks. The six-member panel will review the existing structures and patterns of costs,charges and interchange fees for ATM transaction. The committee will also review the overall patterns of usage of ATMs by… Continue reading Reserve Bank sets up panel to examine ATM charges, fees

Nilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges

The Reserve Bank of India(RBI) had appointed a committee headed by Nandan Nilekani to submit its suggestions on promoting digital payments. The panel has suggested several measures to encourage digital payments such as (a)elimination of charges (b)round-the-clock RTGS and NEFT facility and (c)duty-free import of point-of-sales machines. The panel has also suggested that there should… Continue reading Nilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges

Panel submits a report on reducing oil import dependency

A High-Level Committee constituted by the government has submitted its recommendations to bring down India’s dependence on crude oil imports. The committee was formed to look into issues related to (a)research and development centres of oil and gas public sector undertakings(PSUs) (b)tax issues and ways of benefiting from the goods and services tax (GST) and… Continue reading Panel submits a report on reducing oil import dependency