PM Narendra Modi Inaugrates Petrotech 2016
- The 12th International Oil and Gas Conference, PETROTECH-2016 was inaugurated by Prime Minister Narendra Modi in the national capital.
- The theme of the Conference is Hydrocarbons to fuel the future – Choices and Challenges and aims was to explore areas of growth in petroleum technology, exploration, drilling, production and processing, refining and other related issues.
MMTC to Tie-up with SBI
- Public sector company MMTC has already tied up with over half a dozen banks and now they also has tie-up with the State Bank of India (SBI) to sell government-minted “Indian Gold Coin”.
- The state-run bullion trader has so far sold one lakh pieces of “Indian Gold Coin”.
- The coin is India’s first-ever sovereign gold offering and the only one to be hallmarked by Bureau of Indian Standards for purity.
E-payments if Contract Exceeds Rs 5,000
- In order to bring complete digitization of payments, Finance Ministry made it mandatory for all government departments to make payments above Rs 5,000 through e-Payment facility & not cash.
- The step was taken to achieve the goal of complete digitization of government payments, the ministry has lowered the amount for making such payments from Rs 10,000 to Rs 5,000.
Ruchi Soya to provide banking assistance to farmers
- Edible oil firm Ruchi Soya Industries in association with State Bank of India (SBI) launched an initiative to provide banking assistance to farmers.
- Under the initiative ‘Kisan Kalyan Ayojan’, the company will help farmers to open bank accounts, procure the produce directly from farmers at the right price and ensure farmers get their payment immediately through internet banking.
- The company will further plans to expand this initiative across the country in states like Maharashtra, Rajasthan, Andhra Pradesh and Gujarat.
Govt brings bonds for demonetised funds
- Govt. has created provisions to issue special bonds worth up to Rs 6 lakh crore to soak currency worth Rs 8 lakh crore so to absorb the temporary surplus with banks created by nationwide deposits of demonetised currency.
- Thus the RBI will sell the bonds, called Market Stabilisation Scheme (MSS) to banks on behalf of the government.
India to require 884 mt of coal in 2017
- India’s annual coal requirement for the current financial year has been pegged at 884.87 million tonnes (mt).
- Point to foucs that the demand for coal is not estimated separately for state and Union Territories.
- Coal produced in the country during 2015-16 was to the tune of 639.23 mt.
Naveen Patnaik inaugurates Tata Steel’s 55,000 TPA ferro-chrome plant
- Odisha Chief Minister inaugurates the 55,000-tonne per annum (TPA) Odisha ferro-chrome plant set up by Tata Steel at Gopalpur Industrial Park in Ganjam district.
- Total cost of plant is Rs 542 crore and is considered as a unique environment-friendly unit with state-of-the-art pollution control equipment and technology such as ETP (Effluent Treatment Plant) and STP (Sewage Treatment Plant).
- It is being first plant in India to use briquetting method of chrome ore fine agglomeration.
Union government launched ‘Vittiya Saksharata Abhiyan’
- Union Minister for Human Resource Development, on 1 December 2016 launched ‘Vittiya Saksharata Abhiyan’ with the aim to make people aware about the cashless economic system.
- Javadekar appealed minister of HRD urges to the faculty and especially young students to come forward and join Vittiya Saksharata Abhiyan.
Cabinet approves Mumbai Urban Transport Project
- The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Mumbai Urban Transport Project Phase-III estimated to cost Rs 10,947 crores on completion.
- The project is expected to be completed in the next five years during 13th Five Year Plan period.
NITI Aayog constituted committee to promote cashless economy
- NITI Aayog on 30 November 2016 constituted a 13-member committee to promote cashless economy and best global practices for implementing an economy primarily based on digital payment.
- The committee will be headed by Andhra Pradesh CM Chandrababu Naidu.
