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News in Short

News in Short - 19-October-2019

Pakistan retained in FATF grey list

Date: 19 October 2019 Tags: International Organizations
  • International monetary funding watchdog, FATF has taken decision to retain Pakistan in the ‘Grey list' during a annual meeting.
  • It was noted that Pakistan was able to address only five out of the 27 actionable items given to it in controlling funding to terror groups.
  • The FATF is an inter-governmental body established in 1989 to combat money-laundering, terrorist financing and other related threats to the integrity of the international financial system.
  • Remaining on the “Grey List”, has made it difficult for Pakistan to get financial aid from the IMF, World Bank and European Union.

RIL becomes 1stIndian company to reach 9 lakh crore m-cap mark

Date: 19 October 2019 Tags: Public Finance
  • Reliance Industries Ltd (RIL) has become the first Indian company to cross ?9 trillion market capitalization after its shares rose nearly 2%.
  • Observers have estimated that RIL can become the first Indian company to achieve a market capitalisation of $200 billion in the next two years.

ancient-coffins-discovered-in-egypt

Date: 19 October 2019 Tags: Historical Places
  • Egyptian government has said that it has discovered 20 wooden coffins in intact state, which is said to be one of the largest and most important archaeological finds in the past few years.
  • The coffins were found in Assasif, a necropolis on the west bank of the Nile River, which was part of ancient capital city of Thebes.

Justice Bobde recommended for next CJI post

Date: 19 October 2019 Tags: Appointments & Resignations
  • Chief Justice of India Ranjan Gogoi has recommended the name of Justice Sharad Arvind Bobde as his successor. The Chief Justice is set to retire in less than a month.
  • Justice Bobde is second in seniority in Supreme Court as of now and would become the 47th Chief Justice of the country and shall take oath of office on 18 November. He will demit office on his retirement on 23 April, 2020.
  • According to convention Chief Justice of India should be the senior-most judge of the Supreme Court considered fit to hold the office and he shall be recommended by the outgoing CJI.

Andhra Pradesh launches YSR Navodayam scheme

Date: 19 October 2019 Tags: Commerce & Industry
  • The Andhra Pradesh Government has launched a scheme called YSR Navodayam,which aims to bail out micro, small and medium enterprises (MSMEs) in the State and provide them financial relief by restructuring their bank loans before March 31,2020.
  • The scheme will provide a lifeline to stressed MSMEs by ensuring that all the eligible MSME units are permitted for a one-time restructuring of accounts up to 31-03-2020.
  • TheMSME sector is the second-largest employment provider after agriculture in our country and needs support to develop into a profitable venture for investors.