DAILY CURRENT AFFAIRS: 19TH FEB 2017
(Daily News India)
Shared By: WWW.DailyGk.IN
1. SC INTRODUCES MIDDLE INCOME GROUP SCHEME TO PROVIDE LEGAL SERVICES AT AFFORDABLE RATE
i. The Supreme Court has introduced the Middle Income Group Scheme for the middle income group people whose gross income is not exceeding Rs. 60,000 per month or Rs. 7.5 lakh per annum.
ii. The MIG Legal Aid Scheme is a self-supporting scheme whose objective is to provide legal services to the middle income group who cannot afford the expensive litigation in the Supreme Court.
iii. Under this scheme, middle class people who have the desire to avail the benefit of the Scheme shall have to fill up the form prescribed and accept all the terms and conditions contained within and thus can avail the services of the society for a nominal amount.
iv. Under this scheme a Supreme Court Middle Income Group Legal Aid Society would be set up as a governing body.
2. 2-DAY SOUTH ASIAN SPEAKERS’ SUMMIT BEGINS IN INDORE
i. Lok Sabha Speaker Sumitra Mahajan inaugrated 2-day South Asian Speakers’ Summit in Indore, Madhya Pradesh.
ii. Speakers of 6 countries include Bangladesh, Afghanistan, Bhutan, Maldives, Sri Lanka and Nepal attended the meeting to deliberate on ways to achieve sustainable development goals.
iii. The summit will have a session on ‘Identifying Resources for SDGs Implementation in South Asia: Opportunities for Parliamentary Cooperation’
iv. A working session on ‘Gender Equality As A Critical Factor For Sustainable Development’ will discuss opportunities that the SDGs present to strike a better gender balance and to determine the gender impact of sustainable development policies.
3. SBI TIES UP WITH GREENPLY TO OFFER FINANCIAL SERVICES TO ITS DEALERS
i. Mumbai based State Bank of India has signed Memorandum of Understanding with India’s largest interior infrastructure company Greenply Industries to grow its channel financing business of Greenply Industries on electronic platform.
ii. SBI will extend financial services to Greenply dealers to grow further on a very competitive pricing.
iii. It has also taken initiative to stop use of paper from its branches for end-to-end digitisation.
4. RBI PERMITS MULTILATERAL FINANCIAL INSTITUTIONS TO INVEST IN MASALA BONDS
i. The Reserve Bank of India has permitted Multilateral Financial Institutions to invest in rupee denominated bonds commonly known as ‘Masala Bonds’ issued by Indian entities.
ii. As per the RBI notification the move will enable the Indian entities issuing rupee denominated bonds abroad to have wider choice of investors.
iii. The Multilateral and Regional Financial Institutions where India is a member country can only invest in the rupee denominated bonds for example BRICS led New Development Bank, Asian Development Bank etc