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Daily Archives: August 31, 2017

India Implements Indian Army Reforms

New Delhi (ABC Live) : Indian Army Reforms : In a first ever exercise after Independence, the Ministry of Defence in consultation with the Indian Army has decided to reform the Indian Army in a planned manner. These decisions were approved by the Defence Minister Shri Arun Jaitley after an extensive consultation with all stakeholders. The first phase of the …

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Cabinet Approves India-Israel MoU for Innovation Fund

New Delhi (ABC Live): India-Israel MoU : The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved a Memorandum of Understanding (MoU) between India and Israel on “India-Israel Industrial R&D and Technological Innovation Fund (I4F)”. The MoU was concluded in July, 2017 India and Israel will make an contribution of four million US Dollars each for the Fund, both …

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India to Bring First GST Act Amendment

New Delhi (ABC Live): GST Act Amendment ; The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the proposal of the Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval would allow to increase the maximum rate at which the Compensation Cess …

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Election Commission MoU with International Agencies

New Delhi (ABC Live): Election Commission : The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the proposal of the Election Commission of India to enter into Memorandum of Understanding (MoU) on cooperation in the field of electoral management and administration with the Election Management Bodies of other countries/International Agencies. These are as follows: i. The National …

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RBI Recovers 99 percent of Specified Bank Notes

New Delhi (ABC Live): Specified Bank Notes :The RBI Annual Accounts for 2016-17, at note XI.6.2 Liabilities of Issue Department – Notes Issued in para (ii) mentions – “Until June 30, 2017, Specified Bank Notes (SBNs) were received by the Reserve Bank either directly or from bank branches/post offices through the currency chest mechanism.  Some of these SBNs are still lying in …

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