The Union Cabinet has approved the first extension of Concessional Financing Scheme CFS to support Indian Entities bidding for strategically important infrastructure projects abroad. Under the CFS, the Govt. of India has been supporting Indian Entities bidding for strategically important infrastructure projects abroad since 2015-16. Since the objectives of the Scheme continue to be relevant, it is proposed to extend the Scheme for another five years from 2018 to 2023. Prior to the introduction of CFS, Indian entities were not able to bid for large projects abroad since the cost of financing was very high for them and bidders from other countries such as China, Japan, Europe, and the US were able to provide credit at superior terms lower interest rate and longer tenures which works to theRead More
Day: August 2, 2018
Kumar Mangalam Birla and Y.C. Deveshwar was appointed as non-official independent directors in Air India. It is perhaps for the first time that big industrialists like them have been named on the board of a public sector enterprise.Read More
India and Germany have signed an agreement on financial and technical cooperation focusing on sustainable urban development and renewable energy. The government-to-government Umbrella Agreement on Financial Cooperation and Technical Co-operationRead More
The Lok Sabha passed the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amend) Bill that seeks to bring down the specified value of commercial disputes from the existing Rs 1 crore each to Rs 3 lakh for improving India’s standing in the ease of doing business.Read More
The Union Cabinet approved a bill to restore original provisions of a law on prevention of atrocities against people of scheduled castes and tribes. The bill rules out any provision for an anticipatory bail for a person accused of atrocities against Scheduled Castes (SC)/Scheduled Tribes (ST), notwithstanding any court order, while it also provides that no preliminary enquiry will be required forRead More
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