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News in Short

News in Short - 17-June-2019

Centre is to set up a high level task force for agri reforms

Date: 17 June 2019 Tags: Commissions & Committees
  • Prime Minister Narendra Modi has announced that Centre will set up a high-level task force for agri reforms. The decision was made in the 5th meeting of the NITI Aayog governing council.
  • The task force will constitute of few chief ministers. It will be mandated for recommending suggestions for undertaking structural reforms in agriculture, including strengthening logistics, produce marketing, food processing as well as changes to the Essential Commodities Act.

J&K Bank now under purview of RTI Act and CVC guidelines

Date: 17 June 2019 Tags: Banking Laws & Regulations
  • The Board of Directors of the Jammu and Kashmir Bank has decided to bring bank under purview of Right to Information (RTI) Act and Central Vigilance Commission (CVC) guidelines.

  • It is expected to be brought under RTI and CVC guidelines by the end of June. The move will ensure greater transparency and accountability.
  • The decision was taken after removal of Parvez Ahmed as Chairman of the J&K Bank, who has been accused of alleged corruption, nepotism and favouritism.
  • Being government-owned bank, J&K bank had no choice of being outside ambit RTI.  It has been registered under the companies act as a government company.

Assam govt to set up Skill University at Darrang district

Date: 17 June 2019 Tags: miscellaneous
  • Assam government is planning to set up a Skill University at Darrang district. The proposed institution is known as Skill City.

  • It will be first skill university in India. It will have the capacity of 10 thousand seats. 80% seats of this university will be reserved for Assam and rest 20% for other North Eastern States. 

Pakistan failed to fulfill FATF standard to curb terror funding

Date: 17 June 2019 Tags: International Organizations
  • Pakistan has failed to complete 25 of 27 requirements demanded by Financial Action Task Force (FATF)to curb terror funding.
  • FATF already warned Pakistan to take effective measures to combat money laundering and terrorist financing else the country will downgraded to the black list from current “grey" list.
  • Pakistan has been on FATF’s grey list since 2018. In June 2018, Pakistan had committed to work with the FATF to strengthen its anti-money laundering and combating terrorist financing regimes.
  • Financial Action Task Force (FATF): It is inter-governmental body which devices policy and sets standards to combat money laundering, terrorist financing and other related threats. It has 38 member countries, including US, UK, India, Japan, China and France, among others.